Snowy Hydro prepares new cost update for delayed pumped hydro scheme

Australian government-owned Snowy Hydro expects to deliver an updated cost review for its Snowy 2.0 pumped hydro project soon, RenewEconomy reported. Maia Schweizer, chief operating officer of Snowy Hydro, stated at the AFR energy and climate summit in Sydney that the review process is near completion. Critics expect the final total cost of the project to exceed 20 billion Australian dollars. [1]

The developer is also facing operational hurdles at another newly built facility. According to RenewEconomy, Schweizer identified gas availability as a current challenge for the company's new gas power plant located at Kurri Kurri in New South Wales. [1][3]

Snowy Hydro is an electricity generation and retailing corporation operating in Australia. It manages the original Snowy Mountains Hydro-electric Scheme, which features 16 major dams, 145 kilometres of tunnels, and multiple power stations, while also operating three gas-fired power plants across Victoria and New South Wales. [2][4]

The company is working closely with the federal government as its primary shareholder to conclude the financial assessment. Further cost details and operational schedules for Snowy 2.0 will depend on the final findings of the review. [1]