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Snowy 2.0 project costs surge to $25 billion
Snowy 2.0 project costs surge to $25 billion as completion is delayed to late 2029.
Snowy Hydro Limited released updated advice on Thursday night in Australia stating the Snowy 2.0 pumped hydro scheme's potential cost has risen to $25 billion. The 2200-megawatt project in NSW now faces a late 2029 completion date due to geological challenges and design immaturity. CEO Dennis Barnes claims the facility will provide over half of the grid's required energy storage by 2050 to prevent blackouts.
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Snowy 2.0 project costs surge to $25 billion
The Commonwealth government's Snowy 2.0 mega-project is facing severe setbacks as costs rise to potentially $25 billion. This figure is more than four times the original $6 billion estimate. Builders report that the project is grappling with significant geological challenges and soaring construction pressures. Consequently, the expected completion date has been pushed back to late 2029.