Australia’s biggest renewable energy project, the “Snowy 2.0” hydro scheme in New South Wales, is now expected to cost up to A$25 billion – more than 12 times the original figure, an official new report has confirmed.
Snowy 2.0 also won’t be completed until late 2029. This is eight years after the initial projection announced by then-Prime Minister Malcolm Turnbull in 2017. Its anticipated price tag was just $2 billion then, though there was no business case to back that up at the time.
