Snowy Hydro announces imminent cost review for Snowy 2.0 project

Snowy Hydro Chief Operating Officer Maia Schweizer has stated that a cost review for the Snowy 2.0 pumped hydro project is “imminent.” The Commonwealth-owned corporation is working with its shareholder to finalize the review, which follows a year-long assessment process.

The project, currently estimated to cost $12 billion, has faced criticism regarding potential budget overruns. Some industry observers suggest the final price tag, including transmission and financing costs, could exceed $20 billion. Despite these concerns, Schweizer defended the project's long-term economic value, noting that the asset is designed to last 150 years and provides significant grid backup capacity.

While construction challenges persist, the Australian Energy Market Operator’s latest Integrated System Plan maintains a projected completion date of late 2028.