The final cost estimate for Snowy 2.0 has been released. The conversion of the original Snowy hydroelectric scheme to a large pumped hydro energy storage scheme will cost A$22-25 billion and will be completed in late 2029.
Much media coverage has focused on the major blowouts in cost and time. When the scheme was announced in 2017, then-Prime Minister Malcolm Turnbull gave a rough costing of just $2 billion – extremely low for a project this size – and said it could be finished in four years. Engineering issues, stalled tunnelling machines and surging costs of construction all contributed to the blowouts.
