Snowy Hydro 2.0 project hit by delay of up to two years and another cost blowout

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Snowy Hydro 2.0 project hit by delay of up to two years and another cost blowout
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Government-owned company pushes earliest start date of pumped hydro project to the second half of 2028

The multibillion-dollar Snowy Hydro 2.0 development, billed as vital to support the transformation of Australia’s east coast electricity grid, will be delayed by up to two years and face another cost blowout.

In a statement on Wednesday, the federal government-owned company said its management team was “working towards resetting the delivery timeline and budget” for the pumped hydro project. It expected a delay of one or two years, pushing the earliest start date to the second half of 2028 and the completion of all units to the end of 2029.The statement did not include an updated cost.

“I am committed to being transparent about our progress and how we are proactively managing the inevitable issues and challenges that arise in a complex project like this,” he said.Snowy 2.0 is promised to provide 2 gigawatts of capacity and about 350,000 megawatt hours of large-scale storage The climate and energy minister, Chris Bowen, confirmed that the delay could stretch to from the end of 2028 to at least December 2029 before Snowy 2.0 begins operations.Council conference in Sydney. “Of course they’re working very, very hard to make it the earlier part of that [range].He added that both Barnes and chairman David Knox had been in Italy recently “resetting the contract with the joint venture partners”.

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