The first power from the Snowy 2.0 pumped hydro project may not be delivered until 2028, it was revealed yesterday, triggering a fresh round of criticism over the controversial project.
The delay is undoubtedly inconvenient. But, despite speculation, the hold-up won’t noticeably slow the transition to renewable energy. The shift is driven by the compelling price advantage of solar and wind over coal and gas.
And in my view, we shouldn’t get too obsessed about exactly when Snowy 2.0 will be finished, or whether it costs more than first envisaged. In huge projects such as these, delays and cost blowouts are to be expected. And Snowy 2.0 offers us many lessons that will benefit subsequent pumped hydro projects.
