Snowy Hydro is pleased to release the updated Snowy 2.0 business case presenting the project’s key revenue streams and value to the National Electricity Market (NEM). 

Marsden Jacob Associates (MJA), a long-standing expert in modelling the NEM, was re-engaged in mid-2023 by Snowy Hydro to provide updated NEM modelling as input to the updated business case.

While the economic drivers at the time of the project’s Final Investment Decision (FID) in December 2018 have not changed, there are a number of updates and these include:

  • Revised total cost to complete of $12 billion and a delay to the commercial operation date to December 2028.
  • Delivery of an additional 200 megawatts or 10% capacity; bringing total capacity to 2,200 MW. 
  • Increased Snowy 2.0 generation, reflecting the greater penetration of variable renewable generation (wind and solar).

The value of Snowy 2.0 to the NEM has increased since FID in December 2018, to $3.0 billion from $2.8 billion. Its completion is critical to supporting the NEM’s decarbonisation and reliability targets.

Snowy Hydro has already contracted 1.75 gigawatts (GW) of wind and solar supply which enabled 2.9GW of wind and solar projects. Snowy 2.0 will enable at least another 6GW of renewable energy through its ability to “firm” the intermittent wind and solar energy and transform this energy into cost-effective, reliable electricity supply.

The 350 gigawatt hours (GWh) of energy storage provided by Snowy 2.0 through its pump/generate function provides a meaningful step towards the 640GWh of storage identified by AEMO in its 2022 Integrated System Plan as being crucial to absorbing surplus renewable production and maintaining supply during periods of low renewable output.

Located in the NSW Snowy Mountains, Snowy 2.0 is 57% complete, with a workforce of 3,000 achieving good progress across the construction worksites.

At Lobs Hole, tunnel boring machine (TBM) Lady Eileen Hudson has excavated approximately 2km of the 6km tailrace tunnel, and world-leading TBM Kirsten is about to embark on the Inclined Pressure Shaft (IPS) excavation on a steep uphill drive of 1.6km. Stage 2 drill and blast excavation of the power station caverns continues.

When completed, the machine and transformer halls will form one of the largest and deepest caverns in the world, 800 metres underground.

More than 570,000 cubic metres of material has been excavated at the Talbingo intake – where water will exit the tailrace tunnel into Talbingo Reservoir and enter the tunnel when in pumping mode.

At Tantangara, the intake is three metres away from its fully excavated depth of 55 metres and the tunnel linking the intake and gate shaft is underway. TBM Florence is more than 850 metres into the headrace adit.

With progress slowing in very hard rock, the Snowy 2.0 project team ceased excavation by TBM Florence due to rock pinching on the machine’s shield. A specialist contractor has commenced work using high pressure water jets to remove the rock impinging on the machine’s shield. 

The 28-metre wide headrace surge shaft at Marica is excavated to a depth of 85 metres, on its way to 250 metres. 

The precast factory at Polo Flat, Cooma, is manufacturing concrete tunnel lining segments installed by the TBMs. More than 104,000 have been produced, along with 450 of the 7,000, nine-tonne bespoke segments for the IPS that utilise innovative force activated couplers.

The Snowy 2.0 updated business case was assessed following the revision to the project’s schedule and costs announced in August 2023.

The updated Snowy 2.0 business case is available here.




With progress by tunnel boring machine (TBM) Florence in the headrace tunnel slowing in very hard and abrasive rock on Wednesday 15 May, the project ceased excavation by the TBM on Thursday 16 May due to rock pinching on the machine’s shield. This update on TBM operations was provided within 24 hours of the machine being stopped.

The Snowy 2.0 project team sought immediate advice from a specialist contractor with experience at other Australian projects with the same TBM situation. Today the contractor commenced work using high pressure water jets to remove the rock impinging on TBM Florence’s shield.

Timing for estimated recommencement of excavation will be determined on the successful removal of the rock. 

The next TBM Florence update will be provided in the week commencing Monday 27 May.




Tunnel boring machine Florence has been ramping up excavating the Snowy 2.0 headrace tunnel, recently reaching 12 metres per day for a period.

With progress slowing in very hard rock on Wednesday 15 May, today (16 May) the Snowy 2.0 project team ceased excavation by the TBM due to rock pinching on the machine’s shield.

We are currently investigating the best way to relieve this pressure prior to recommencing excavation.




Snowy 2.0 is a major pumped-hydro expansion of the Snowy Scheme and at Marica, high in the Snowy Mountains, a very wide and deep surge shaft connecting to the Snowy 2.0 headrace tunnel is being built. 

The surge shaft has two key purposes for the operation of a hydro power station: as a water storage and vacuum relief when the power station starts up, and to absorb the momentum of water movement within the headrace when the power station is shut down.

The Marica surge shaft is about 28 metres in diameter and is currently over 80 metres deep.

During its construction the walls of the shaft are supported temporarily by rock bolts and shotcrete and once it is excavated to its full depth of 250 metres, a permanent concrete lining will be installed from the bottom up.

We are excavating the shaft with a number of excavation methods, including using 36-tonne excavators that place loads of material into kibbles. This material is lifted out and dropped into a dump truck.

An integrated work platform and personnel hoist is in the final stages of commissioning to provide worker access now the shaft is becoming very deep.

In the latest project update, civil engineer and Snowy 2.0 project manager, Richard Clarke, details the significant work undertaken constructing Marica Trail to create a new permanent access road into the surge shaft site.

Marica Trail provides safe, all weather access for traffic, including heavy vehicles.

Building in steep terrain was challenging and required specialised rope access workers to install ground support for safety and stability.

The road has been very carefully constructed in a tight envelope. It’s 6.5 km long, with an elevation change of about 320 metres from top to bottom and multiple water crossings have been created, including over the Eucumbene River.

Over at Tantangara, drill and blast excavation to join the intake and gate shaft is underway from both structures. The transition from the intake changes shape as it is excavated to become the connection tunnel to the gate shaft.

At the same time, we have started drilling and blasting from the gate shaft to merge into the headrace tunnel alignment excavated by TBM Florence.

When completed, water will enter the headrace tunnel from the intake, on its way to the power station.

Snowy 2.0 is being engineered to deliver clean and reliable energy storage and generation for the next 150 years. The target date for commercial operation of all units is December 2028, with first power expected in the second half of 2027. 

Update – Thursday 2 May

Reports today that tunnel boring machine (TBM) Florence has stopped tunnelling are incorrect.

TBM Florence remains fully operational and is now more than 800 metres into excavation of the Snowy 2.0 headrace tunnel at Tantangara. The TBM has operated successfully since its restart on 8 December 2023 and has moved through identified soft ground into hard rock. 

The total distance tunnelled by all three Snowy 2.0 TBMs across the pumped-hydro renewable energy project is approximately nine kilometres.

As provided in evidence at two recent Senate Estimates hearings, Snowy Hydro has been investigating options to de-risk the headrace tunnel construction by excavating from the other end. This work remains ongoing.




Snowy Hydro acknowledges and thanks the National Parks Association of NSW’s ongoing attention to matters relevant to Kosciuszko National Park, including the construction of Snowy 2.0.

As a longtime operator of the Snowy Scheme within Kosciuszko National Park, we recognise the park is a sensitive environment with high conservation values that require protection. We continue to seek ways to make positive contributions to Kosciuszko National Park through actions such as road improvements and a $100 million investment to improve the biodiversity and recreational values of the park. 

Snowy Hydro takes its environmental management obligations very seriously and we are absolutely committed to ensuring that the construction and operation of Snowy 2.0 is carried out in a manner that is compliant with all applicable laws and project approvals. 

The NPA refers to Snowy 2.0 environmental management plans, the project’s Independent Environmental Audits (IEAs), and state government compliance actions.

There are six management plans yet to be approved and these relate to the management of environmental impacts during the Snowy 2.0 commissioning and operations phase only, which is a couple of years away, not current construction activities. Despite this, progress of each of these plans is well advanced and are either awaiting input from relevant stakeholder organisations or are being revised following formal feedback. Snowy Hydro is actively engaging with the Department of Planning, Housing and Infrastructure (DPHI) on the progress of each plan.

Snowy Hydro undertakes more IEAs than are required under the project approvals due to the sensitive nature of the environment and the scope of the Snowy 2.0 project. Of the 12 non-compliances identified from 372 elements assessed under the most recent IEA,  none caused any actual harm and all are being rectified as a matter of priority.  

The Snowy 2.0 project has been the subject of several compliance actions by EPA and DPHI over the last two years and in each case, important lessons have been learned that have informed improvements to policies, procedures and site practices. Snowy Hydro continues to take these matters very seriously and implement steps to ensure that identified incidents do not happen again. 

Snowy 2.0, a pumped-hydro expansion of the Snowy Scheme, will provide 2,200 megawatts of on-demand, dispatchable energy and almost a week of renewable energy storage to help maintain grid security and reliability while enabling Australia’s decarbonisation.




More than 60 local year 10 students have participated in a Snowy Hydro careers day at Talbingo and gained insights into exciting career opportunities in Science, Technology, Engineering, and Mathematics (STEM). 

Students and teachers from Tumut High School and McAuley College took part in the Snowy STEM Academy initiative, working with engineers, climate scientists, and tradespeople to explore careers in the renewable energy sector.

The group went behind the scenes for an in-depth look at Australia’s largest pumped-hydro facility, Tumut 3 Power Station, and enjoyed a career panel with a question and answer discussion and hands-on activities.

Students also attended elective presentations based on their STEM interests and chose from drone technology, environmental science, trade skills, and engineering options. They even had the opportunity to operate a mini power station.

This STEM-focused initiative reinforced Snowy Hydro’s commitment to supporting regional education and developing the future workforce. 

It showcased the diverse range of careers available in STEM fields, providing real-life tangible outcomes that will help students make informed decisions about their future education and career paths.

“We were excited to open our doors to local students and give them a glimpse into the world of renewable energy and STEM careers,” said Snowy Hydro Area Manager Peter Symons. 

“Snowy Hydro is committed to supporting education and fostering the next generation of STEM professionals and tradespeople.”

Inviting students to experience a working power station aligns with the broader initiatives of the Snowy STEM Academy, which aims to bridge the gap between education and industry, preparing students for future opportunities in the renewable energy sector.Snowy Hydro encourages interested teachers and parents to find out more about the Snowy STEM Academy, by visiting




Snowy Hydro continues its strong commitment to supporting local communities by announcing the opening of the first round of funding for its 2024 Community Grants Program. Through this bi-annual program, Snowy Hydro supports not-for-profit organisations and community groups to foster social, economic and regional resilience across the Snowy Mountains.

In 2023, Snowy Hydro proudly provided $300,000 in community grant funding to various projects, including care packs for cancer patients, improvements to the Gudja Gudja cultural reserve, playground equipment, a youth mentoring program, new displays for heritage museums, and support for many local events and festivals.

The Snowy Hydro Community Grants Program attracts numerous applications each round, reflecting the region’s high demand for funding support.

To increase the chances of success, applicants must align their submissions with Snowy Hydro’s four community commitment pillars: education and development, health and wellbeing, regional capacity building, and environment. All applications must address the specified assessment criteria and meet the eligibility requirements.

Funding opportunities are available across the three Local Government Areas (LGAs) where Snowy Hydro operates its hydro assets. Grants of up to $10,000 are on offer to support local projects, festivals, events, and initiatives that contribute positively to the communities of the Snowy Mountains and surrounding areas.

Interested parties are encouraged to submit their applications online through the Snowy Hydro website.

Notably, for the 2024 funding round, Snowy Hydro has introduced a new application system to streamline the process. The grant platform allows applicants to register and have their own dashboard to track the application. Application saving and returning is possible, and additional members of your group can be invited to provide input into the application. 

The deadline for submissions is Sunday, 7 April 2024.

For more information about Snowy Hydro’s Community Grants Program, visit:




A community open day has been held at Tumut High School to celebrate the official launch of the inaugural Stars Foundation Tumut Program, sponsored by Snowy Hydro.

Students, parents, community members and local Indigenous Elders attended the Tuesday 12 March event, along with representatives from the Stars Foundation, Tumut High School, Department of Regional NSW, Snowy Valleys Council and Snowy Hydro.

The partnership will provide long-term improved health, education and employment outcomes for Indigenous girls and young women from Tumut and the surrounding region.

Snowy Hydro CEO Dennis Barnes said the company’s three-year sponsorship for the Stars Foundation Tumut Program continued Snowy’s commitment to initiatives that supported young people’s education and wellbeing.

“There are 39 students involved in the first year of the Stars Foundation Tumut Program and we look forward to engaging with these inspiring young women in a variety of ways, including encouraging their studies in science, technology engineering and maths (STEM) fields.

“We’re keen to highlight the many career pathways with Snowy through work experience, apprenticeships and traineeships.

“Snowy Hydro is a major local employer in the Snowy Mountains region and we are committed to supporting and investing in the success of local people.”
Founder and CEO of Stars Foundation, Andrea Goddard, said: “Stars is delighted to be working with the Tumut community and we welcome the opportunity to support and empower the First Nations Tumut students to identify their goals and reach their full potential.
“We are very grateful for the commitment from Snowy Hydro to enable us to establish this new Stars program for the Tumut community.”
Established in 2015, the Stars Foundation provides a holistic, intensive, full-time mentoring program that supports and empowers more than 3,020 female Aboriginal and Torres Strait Islander girls and young women in primary and secondary schools across six states and territories.




If you’re interested in the latest updates from the Snowy 2.0 project, come along to information sessions being held throughout the Snowy Mountains this month.

The Snowy 2.0 delivery team, led by Snowy Hydro, is hosting events in Talbingo, Tumut, Tumbarumba, Adaminaby and Cooma, with opportunities to find out more about the project, ask questions and provide your feedback.

These in-person events will cover a range of topics including:

  • project news and construction activities 
  • engineering innovations and manufacturing
  • traffic management, environment and safety
  • accommodation, recreation access and other local issues; 
  • local suppliers, jobs and training on Snowy 2.0.

Snowy Hydro CEO Dennis Barnes said it was essential local people were updated about progress on Snowy 2.0 and that they understood the significance of the project.

“What’s being constructed right here in the mountains is a critically important renewable energy project that will help maintain Australia’s grid security and reliability well into the future,” Dennis said. 

“It is a large and complex project that’s also generating jobs and significant investment in regional areas.

“We’re committed to keeping our local communities informed about Snowy 2.0 and responding to any concerns. We are available to answer questions at our information sessions so I encourage people to come along to hear from the project team directly.”

The Snowy 2.0 community information sessions are held twice yearly. Some are drop-in sessions, with the chance to speak one-on-one with project team members from Snowy Hydro and principal contractor Future Generation Joint Venture. Other events feature a formal presentation followed by community Q&As.

Community information sessions schedule:

Date Town and locationTime
Thursday 14 March 2024
Thursday 14 March 2024
Talbingo shops
Tumut River Brewing Co
12pm – 2pm
6pm – 7.30pm
Friday 15 March 2024Near Tumbarumba IGA, The Parade12pm – 2pm
Wednesday 20 March 2024Adaminaby Bowling Club6pm – 7.30pm
Thursday 21 March 2024Cooma Car Club6pm – 7.30pm



The Snowy 2.0 Cooma precast manufacturing facility has hit another significant milestone and completed production of 100,000 of the 130,000 concrete segments needed to line 27 kilometres of tunnels for the pumped-hydro megaproject. 

More than 230,000m3 (or more than 550,000 tonnes) of concrete has been used to manufacture these seven-tonne precast segments, installed by the three tunnel boring machines (TBMs) used on the Snowy project. 

Snowy Hydro CEO Dennis Barnes said it was pleasing for the project to be manufacturing and investing locally, while also providing employment opportunities. 

“About 200 people from the 3,000-strong Snowy 2.0 workforce work at the precast factory operated by our project contractor Future Generation Joint Venture,” Dennis said. “The facility supports local employment and also on-the-job training for a number of school-based apprentices from Monaro High.”   

The precast facility includes a concrete batching plant and onsite laboratory to check the quality of every segment produced. Many of the raw materials like aggregates are sourced from local quarries at Mt Mary and Nimmitabel.

Careful consideration and design of the concrete mix, which includes waste material, has meant significant reduction in the environmental production footprint while improving the segments’ durability and performance.

Carousels utilising robotics to automate the process of demoulding, cleaning and application of the release agent on the segment moulds have been used in the manufacturing process.

One of the two carousels has now been modified to produce the precast segments for the Snowy 2.0 inclined pressure shaft (IPS). This very steep 1.65km shaft will be excavated by TBM Kirsten and will link the underground power station with the headrace tunnel coming from Tantangara.

The IPS segments involve a world-first force-activated coupling system (FACS) designed to withstand the powerful internal forces of water moving through the 10-metre diameter inclined tunnel.

Installing segments with FACS eliminates the need for a second tunnel lining, thereby improving the quality, safety and the rate of tunnel completion. 

The Snowy 2.0 precast factory will produce approximately 9,000 IPS segments, with nine used in each tunnel-lining ring. The first ring prototype has been completed, with mass production expected to start next month.





The new Snowy 2.0 power station will boast the latest in hydro technology, delivered by our expert subcontractor Voith Hydro. In the latest project update, Snowy 2.0 mechanical engineer Mahali Heffner details how quality assurance activities and factory acceptance testing is carried out on each power station component.

Every one of the hundreds of pump-turbine-generator components undergoes rigorous testing before it leaves the Voith factory. This is to ensure they meet high quality standards and will operate reliably when the power station is switched on.

A team of Snowy Hydro and independent assessors recently conducted mechanical and hydraulic dimensional checks on the first Snowy 2.0 runner at the Voith factory in Shanghai, China.

The runner is the heart of a hydro turbine – it’s the rotating element that drives the generator to produce power.

Acceptance testing includes checking the profile of the blades and surface examinations.

Dye penetrant testing is used to identify imperfections on the surface of the 31 tonne, 4.2 metres-wide runner. We spray on a red dye, clean it and apply the developer. If imperfections are present, the dye will make them visual.

Snowy Hydro and contractor Future Generation Joint Venture (FGJV) work with Voith and other subcontractors on a range of quality assurance activities as part of the multi-stage manufacturing process.

At Lobs Hole in the Snowy Mountains, power station components including turbine guard valves, spiral cases and draft tube liners are being progressively delivered to site.

Meanwhile, deep underground, excavation of the machine hall and transformer hall cavern crowns have been completed and we’ve almost finished the final side slashing to widen the structures. Drill and blast works are also continuing in the cross passages and tunnels that are an important part of the power station complex.

At the other end of the project at Tantangara, the intake is really starting to take shape. We are well into stage two of the excavation, now approximately 49 metres below ground level and approximately six metres to go. 

We map the cut face to determine what rock support is required and then after the design is confirmed, rock bolts and shotcrete are installed. It’s exciting to see the shape of the transition from intake to tunnel, with the canopy tube rock support in the intake face forming an arch above the tunnel entrance. 

Drill and blast of the tunnel excavation is scheduled to start soon and the first milestone target will be to link up the intake with the gate shaft. 




Following the success of the inaugural Snowy Hydro Local School STEM Fund in 2023, the funding program focused on science, technology, engineering and maths (STEM) excursions will run again in 2024. Snowy Hydro will extend the opportunity for Snowy Mountains and Cessnock schools to apply for grants of up to $10,000.

Recognising that today’s students are tomorrow’s workforce, Snowy Hydro plays a pivotal role in supporting teachers and students by aligning educational programs with industry expertise.

Last year these grants provided thousands of students and 18 Snowy Mountains schools – primary and secondary, both public and private – hands-on interactive STEM experiences.

The program is part of Snowy Hydro’s ongoing commitment to local regions, which already supports various STEM initiatives, including a First Nations Science Camp, the development of a robotics club, 3D printers, an aquaponics project and the enhancement of school resources for the next generation of innovators.

Snowy Hydro CEO Dennis Barnes said: “Snowy is dedicated to fostering education opportunities in and out of the classroom and assisting in developing career pathways.
“The funding is just one example of Snowy Hydro’s ongoing commitment to education and development in support of STEM, particularly among our local communities.”

The funding program complements Snowy’s successful Snowy STEM Academy, the annual Science of the Snowy Scheme Competition, and the unique tailored programs for local schools.

Applications for the 2024 Local School STEM fund open Monday 26 February and must be lodged by Monday 25 March.

Local schools can apply for funding of up to $10,000 to support science, technology, engineering, and maths (STEM) related excursions, student sponsorship, equipment, and camps.

All applications must be completed online via the Snowy Hydro website.

For more information about Snowy Hydro’s Local School STEM fund and to apply visit: