News

SNOWY 2.0 – PROJECT UPDATE

03/05/2023

Snowy Hydro’s management team is working towards resetting the delivery timeline and budget for the Snowy 2.0 project with its principal contractor, Future Generation Joint Venture (FGJV), as part of an ongoing project review.

The reset will ensure this critically important clean energy infrastructure project is placed on a robust and sustainable footing for FGJV to progress the schedule in a realistic and productive manner.

While significant progress has been achieved by FGJV on Snowy 2.0, there are delays to Snowy 2.0’s contracted schedule and likely cost impacts beyond the contingency allowed, which remain under review by Snowy Hydro.

There are four broad categories of factors contributing to schedule delays and likely cost increases:

the mobilisation and resourcing implications of the COVID-19 pandemic;
the effect of global supply chain disruption and inflation impacting the cost and availability of a skilled workforce, materials, and shipping;
a number of design elements requiring more time to complete due to their technically complex nature, with the final design now being more expensive to construct; and
the impact of variable site and geological conditions, with the most impactful being the soft ground encountered that is delaying tunnel boring machine (TBM) Florence’s progress at Tantangara.

Snowy Hydro anticipates that the timeline for full commercial operation is delayed by a further 12-24 months from the current publicly released dates:

Milestone	Earliest	Latest
First Power	June 2027 – December 2027	June 2028 – December 2028
Commercial operation of all units	December 2028	December 2029

Snowy Hydro expects more detail on the budget implications of the project reset around July 2023, and this will be clearly communicated with key project stakeholders.

Snowy Hydro CEO Dennis Barnes said:

“Since joining Snowy Hydro earlier this year I have focused on ensuring our major projects are placed on a realistic and sustainable footing, while maintaining construction progress.

“This project is critically important to the transition of Australia’s electricity grid and it’s crucial that we are working to a safe, efficient and realistically achievable timeframe to enable orderly planning for all our stakeholders. 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.

“While many other major infrastructure projects have been impacted by the same challenges, Snowy 2.0 continues to make positive progress.

“Snowy 2.0 is providing significant employment and economic benefits both regionally and domestically. There are currently over 2,400 people employed on the project and thousands more jobs generated indirectly through supply chains and support services.

“TBM Kirsten has tunnelled 2.9 km to reach the underground power station cavern complex and we now have access to this site from both ends. We shortly expect to commence the 6km tailrace tunnel that will feed into Talbingo Reservoir and the excavation of intakes at Talbingo and Tantangara are proceeding very well.”

News

SNOWY 2.0 TUNNELLING UPDATE

01/03/2023

Snowy 2.0 is a critically important, pumped-hydro expansion of the Snowy Scheme that will help underpin Australia’s transition to a renewable energy future.

Construction of Snowy 2.0 continues to make progress across multiple worksites. At Lobs Hole, tunnel boring machine (TBM) Lady Eileen Hudson has completed excavation of the 2.7km main access tunnel and TBM Kirsten is almost finished excavating the adjacent 2.9km emergency, cable and ventilation tunnel (ECVT).

At Tantangara, the project team is currently conducting works to stabilise encountered soft ground and enable TBM Florence to restart excavating the headrace tunnel.

TBM Florence has tunnelled about 150 metres and is currently located at a depth of approximately 30 metres below ground. A surface depression recently emerged in the ground above TBM Florence, which has temporarily delayed progress on this particular worksite. The depression is approximately nine (9) metres deep and continues to be monitored.

Importantly, the integrity of the tunnel, which is supported by a concrete lining and steel ribs, has not been compromised, and nor has the capacity of the TBM. The project team has paused the machine until about 10-15m of weak material in front of it is stabilised, prior to striking hard rock, when we expect normal tunnelling to resume.

Snowy 2.0 principal contractor Future Generation Joint Venture (FGJV) is drilling probe holes through the front of the excavation to understand the ground conditions immediately ahead of the TBM. Grout is injected in front of the excavation to improve any weak zones and limit any water flows. Grouting is well underway from TBM Florence, with 20 grout holes drilled to date in the current location.

FGJV is currently installing a slurry plant for the TBM that will mean the machine can switch from open excavation to a closed, pressurised mode. This will deliver stable excavation and efficient progress through the softer ground conditions, while enabling the TBM to switch back to open mode when in harder rock.

Stage two of the works to stabilise the ground in front and above the machine will involve ground improvement from the surface. Once the area is grouted, the depression will be backfilled and revegetated.

Snowy Hydro has been responsibly operating the Snowy Scheme in Kosciuszko National Park for decades and remains committed to careful and safe management of this tunnelling challenge in a sensitive environment.

The Snowy 2.0 workforce of more than 2,200 is continuing to achieve milestones across a range of work fronts as they build the huge pumped-hydro expansion of the Snowy Scheme.

At Lobs Hole, in the main access tunnel, works are continuing on multiple drill and blast cross tunnels. These will link with the ECVT, where TBM Kirsten has tunnelled 2.8km and has reached the site of the underground power station cavern complex. This is a great milestone for Snowy Hydro as we now have access to the excavation site from both ends of the cavern, which will be one of the largest and deepest in the world.

TBM Kirsten is setting a global standard in tunnel boring technology, just as the original Snowy Scheme developed rock bolting techniques that are still used throughout the world today. The machine will soon be modified to excavate the inclined pressure shaft on a steep uphill angle. Modifications include altering the levels of the TBM’s tanks and mechanical equipment so they are level when travelling up the 25-degree incline, and converting the walkways on the machine’s sides into steps and ladderways.

Meanwhile TBM Lady Eileen Hudson is being reassembled at the Talbingo adit with some new components including a cutterhead and shields. It will be launched into the mountain later this year to excavate the 6km tailrace tunnel, which will feed into Talbingo Reservoir.

Excavation of intakes at Talbingo and Tantangara is advancing steadily, along with the giant surge shaft on the Marica plateau that is already excavated to a depth of more than 20m.

Despite the ongoing challenges faced by all large infrastructure projects, Snowy 2.0 continues to achieve progress across a large number of remote work fronts.

Snowy Hydro remains fully committed to ensuring the local community and stakeholders are kept updated on this pumped-hydro mega project that will provide the National Electricity Market with 2,000 megawatts of on-demand generating capacity and a huge 175 hours of energy storage.

Caption: 3D imagery of surface depression above TBM Florence at Tantangara, created using photogrammetry technology

Caption: Snowy 2.0 project overview.

Caption: Talbingo adit, where TBM Lady Eileen Hudson is being reassembled for excavation of the tailrace tunnel.

News

LAKE JINDABYNE RELEASES – 16 December 2022

16/12/2022

High inflows to the Snowy Scheme, including the Jindabyne catchment, have been experienced for more than 12 months and are continuing due to the late snow falls and wetter than usual weather conditions.

Lake levels are approaching 100% and continue to rise, so Snowy Hydro has consulted with NSW Department of Planning and Environment (DPE Water) to make pre-releases into the Snowy River below Jindabyne Dam from 1am Saturday 17 December 2022.

Pre-releases will be greater than the environmental releases notified on Snowy Hydro’s website and may change at short notice in response to the weather conditions. Releases are expected to remain below 2,000 megalitres per day, but could increase in response to further weather events.

If Lake Jindabyne reaches 100%, it will trigger the operation of the spillway gates. Dam safety is paramount, and the spillway gates will automatically release water whenever the storage reaches or exceeds 100%.

For the community the most important message is to stay safe and well informed. The public can stay updated about flood alerts here:

For more information about releases into the Snowy River visit

https://www.snowyhydro.com.au/generation/live-data/lake-levels/ and

https://dpie.nsw.gov.au/water/home

Snowy Hydro will continue to keep the community informed about management of water in Lake Jindabyne through its website and social media channels.

News

SNOWY HYDRO JOINS WITH COMMUNITY TO CELEBRATE 50th BIRTHDAY FOR TUMUT 3 POWER STATION

05/11/2022

Large crowds have turned out for a community open day and 50th birthday celebrations for the largest of the mighty Snowy Scheme’s power stations, Tumut 3, at Talbingo.

With the iconic white penstocks as backdrop, local community members and visitors today joined Snowy Hydro in acknowledging the remarkable role the Tumut 3 Power Station has played providing critical energy supply and water services to eastern Australia since 1972.

Snowy Hydro acting CEO Roger Whitby said Tumut 3 was the first and biggest pumped-hydro facility in Australia.

“The Snowy Scheme’s fast start, reliable clean energy generation keeps the lights on – literally – for millions of people and our pumped-hydro capability here at T3 is integral to this,” Mr Whitby said. “We generate at peak periods or when there is a shortfall of other energy sources, and pump when demand and wholesale energy prices are low, reusing and recycling the water.

“Tumut 3 Power Station has been operating reliably and safely for 50 years, with decades more service to come.

“The longevity of this asset is testament to its quality design, engineering, construction and maintenance. I would like to thank and express my appreciation to those who have played a part in Tumut 3’s history, especially those former workers who have attended the event today.”

Mr Whitby, along with the Member for Wagga Wagga Dr Joe McGirr and Snowy Valleys Council Mayor Ian Chaffey, led the official proceedings at the community open day.

Visitors to the event enjoyed a range of activities including power station tours, bus tours of the reservoir and penstocks, live music, food vendors, and activities for the kids from Snowy Hydro’s Next Generation Education Hub and the National Parks and Wildlife Service.

Tumut 3 Power Station facts

T3 is the largest power station in the Snowy Scheme and the first pumped-hydro facility in Australia.
The station has a total generating capacity of 1,800MW. That is enough electricity to power more than half a million homes.
Three of the six units are capable of both generating and pumping, meaning that we can recycle water between Jounama Pondage and Talbingo Reservoir.
Each of the penstocks are 488m long and 5.6m in diameter.
They are full all of the time, holding over 12,000 tonnes of water.
If all three pumps are running, water from Jounama Pondage is pumped at a rate of 297 cubic metres per second.
Talbingo Dam was completed in 1970 – the dam height is 161 metres.
Talbingo Reservoir’s gross capacity is 921,400,000m3, which is almost twice the size of Sydney Harbour.

News

SNOWY HYDRO AND APA SIGN TRANSPORT, STORAGE AND DEVELOPMENT AGREEMENTS FOR THE HUNTER POWER PROJECT

20/06/2022

Snowy Hydro today welcomed the announcement by APA Group that it had signed gas transport, storage and development agreements for the Hunter Power Project.

APA will construct, own and operate the Hunter Power Project’s gas pipeline connection to the Sydney -Newcastle pipeline, known as the Kurri Kurri Lateral, along with a 70 terajoule gas storage facility.

Snowy Hydro CEO Paul Broad said the Hunter Power Project would play a critical role in supplementing Snowy’s generation portfolio with dispatchable capacity when the needs of electricity consumers are highest.

“Along with Snowy 2.0, which is Australia’s largest committed renewable energy project, the Hunter Power Project will underpin thousands of megawatts of new wind and solar plants.

“The Hunter Power Project will be good for prices, by filling the gap in electricity demand and offsetting potential cost increases resulting from the closure of the Liddell Power Station.

“Today’s announcement is another significant milestone for the project and Snowy is looking forward to continuing to work closely with APA.

“The Hunter Power Project is on track and progressing well, with key milestones including naming CIMIC Group’s UGL as the Principal Contractor, as well as the signing of a major contract with Mitsubishi Power to deliver the hydrogen-ready open-cycle gas turbines.

“Snowy continues to take opportunities to turbo-charge local investment by the project. That’s why we’ve engaged a Hunter-based recruitment agency, engaged a local civil works contractor, established a Snowy Hydro site office at Kurri Kurri and mobilised a local workforce.”

News

SNOWY HYDRO SIGNS NEW RENEWABLE ENERGY DEAL

20/06/2022

Snowy Hydro is again expanding its renewable energy portfolio, signing a contract to purchase power and renewables certificates from a new CWP Renewables wind farm development in New South Wales.

The deal with the Uungula wind farm near Wellington is the 12th for Snowy Hydro, a leader in clean energy and Australia’s renewable energy transition.

Managing Director and CEO Paul Broad said the agreement to purchase 200 megawatts of Uungula’s output for a 15-year term supported Snowy Hydro’s commitment to providing affordable, reliable and clean energy to its commercial and industrial customers.

“Renewables are the future and by combining our contracted wind and solar projects with our on-demand hydro assets we can provide ‘firm’, secure, low-emissions energy to the market, while keeping the lights on,” Mr Broad said.

“This new deal with CWP Renewables is targeted to start in 2026 after construction of Uungula is completed and will increase the total energy that Snowy purchases from renewables projects to 4.1 terawatt hours each year.”
CWP Renewables CEO Jason Willoughby welcomed the second partnership with Snowy Hydro and said the agreement confirmed the ongoing demand for renewables.

“At 414 megawatts, Uungula will be our largest wind farm to date and provide enough clean electricity to power more than 200,000 homes,” Mr Willoughby said. “It’s great to have Snowy Hydro on-board as a foundation offtaker for the project, which in turn helps us continue to develop our pipeline of renewable projects.”

CWP Renewables currently operates and owns 650MW of renewable energy assets in the National Electricity Market and has another 5GW of wind, storage and firming projects in its near-medium term development portfolio. Snowy Hydro already partners with CWP Renewables through an offtake agreement for power from its Bango wind farm, north of Yass.

“We are pleased to be working again with CWP Renewables and growing our clean energy business,” Mr Broad said. “This partnership is another example of Snowy Hydro securing greater investment in renewables across Australia, which is a win-win for everyone.”

Uungula Wind Farm has received development approval and construction is planned to start this year, supporting more than 260 jobs.

News

SNOWY HYDRO WATER RELEASES FROM TUMUT 3 POWER STATION

03/06/2022

Snowy Hydro is the largest supplier of on-demand energy generation in NSW, by capacity. The company also has an important role in capturing and storing water in the Snowy Scheme, which helps manage and regulate inflows for the benefit of downstream water users.

The National Electricity Market (NEM), especially NSW, is currently experiencing above-average outages from coal power stations and low levels of reserve energy capacity.

There is an energy crisis in the National Electricity Market (NEM) unfolding and Snowy Hydro is being called on more than ever to keep the lights on.
To provide this essential service to the NEM, Snowy Hydro must release water from the Snowy Scheme.
Snowy Hydro is the largest supplier of on-demand energy generation in NSW, by capacity and Tumut 3 Power Station, with a generation capacity of 1,800 megawatts, is a significant contributor.
Snowy Hydro has been working closely with WaterNSW to manage storages during these challenging conditions.
Generation from Tumut 3 Power Station is significantly constrained by the current storage levels in Blowering Reservoir and the release capacity of the Tumut River.
In order to meet the predicted energy demands, it is possible Blowering Reservoir will fill and spill, potentially exceeding the Tumut River channel capacity.
In this scenario, there is potential for the inundation of low-level causeways and water breaking out of the river channel onto agricultural land adjacent to the river.

For the community, the most important message is to stay safe and well-informed.

The public can stay updated about flood alerts here:

More information

News

NEW LEASE ON LIFE FOR MURRAY 1 TRANSFORMERS

04/04/2022

Snowy Hydro is carrying out a large project to refurbish the Murray 1 Power Station generator step-up transformers, a process that will significantly extend the life of these important Snowy Scheme assets.

Reconditioning and replacement of the bushings will help to increase the lifespan of the transformers by an extra 15 years. Under normal conditions, transformers are expected to operate for 30 to 40 years, but thanks to the thorough effort Snowy puts into maintaining its assets, the Murray 1 Power Station transformers will operate for many years to come – an amazing achievement.

There have been a number of obstacles to overcome during the course of this project, including road closures along the Alpine Way due to natural incidents, weather extremes in the Snowy Mountains, and above all, COVID-19 and the closing of the border between New South Wales and Victoria.

Murray 1 is located near Khancoban and Wilson Transformer Company (WTC), based in Melbourne, which was hired to do some of the important work, navigated a six-week government approval process to cross the border from Victoria to work on the refurbishment through the pandemic.

WTC manufactured a purpose-built dry out tank at its Glen Waverley factory specifically for this major Snowy Hydro project.

The tank is utilised after the team has de-tanked the core and coils – which are then both put inside the dry-out tank. The team completes welding works and modification of the old transformer tank and lid, before re-tanking the unit into the original body.

There are two more Murray 1 transformer refurbishments and bushing replacements remaining, with the last scheduled to be completed in November 2022.

So far, the project has been highly successful, with approximately 100 workers involved, and no safety concerns or injuries. Snowy Hydro appreciates all those contributing to this project for prioritising safety and health above everything else.

In addition, Snowy Hydro and WTC have worked with many local businesses in the construction, including electrical contractors PHE and Roddy Engineering, both based in Tumut, NSW.

News

SNOWY 2.0 RAMPS UP WITH COMMISSIONING OF SECOND TUNNEL BORING MACHINE

06/12/2021

Snowy Hydro has today achieved another exciting milestone, with the commissioning of the second tunnel boring machine (TBM) for Snowy 2.0, Australia’s largest renewable energy project.

The 11-metre diameter TBM Kirsten, one of the most innovative and technologically-advanced machines in the world, is one of three TBMs that will excavate more than 27km of tunnels for the massive pumped-hydro expansion of the iconic Snowy Scheme.

Snowy 2.0, which is on-budget and due to produce first power in 2025, is fundamental to Australia’s transition to a renewable energy future. Its 2,000 megawatts of pumping and generating capacity and 175 hours of storage – enough to power 500,000 homes simultaneously – will underpin thousands of megawatts of intermittent renewables.

Snowy Hydro CEO Paul Broad said Snowy 2.0 was creating 4,000 jobs and significant training and apprenticeship opportunities for workers, while providing a major economic boost for the Snowy Mountains region and beyond.

“Our first TBM, the Lady Eileen Hudson, is already a kilometre into the mountain excavating the main access tunnel and now we have TBM Kirsten continuing the tunnelling and construction progress for this amazing project,” Mr Broad said.

“Our growing workforce of almost 1,400 includes hundreds of people from the local region and we have invested more than $70 million with local businesses so far.

“Upskilling workers and investing in the future of our youth will be important legacies of this project so it is very pleasing to see Snowy 2.0 apprentices around site learning their trades and local people having the chance to work on the TBMs.”

Mr Broad, Prime Minister Scott Morrison, Industry, Energy and Emissions Reduction Minister Angus Taylor, and representatives from Snowy 2.0 principal contractor Future Generation Joint Venture, today toured TBM Kirsten at Lobs Hole and watched the cutterhead spin.

Named after NSW astrophysicist and popular science communicator Kirsten Banks, TBM Kirsten is set to excavate the 2.9km emergency, cable and ventilation tunnel (ECVT), which provides alternate access to the underground power station. The 205-metre-long TBM will then bore the 1.4km inclined pressure shaft (IPS) and a 2.4km section of the headrace tunnel.

TBM Kirsten is setting a global standard in tunnel boring technology, just as the original Snowy Scheme developed rock bolting techniques that are still used throughout the world today.

It has been specially designed to excavate the IPS on a very steep gradient (to +47% or a 25-degree angle) so all equipment within the TBM can switch to work on the incline, and the stairways and walkways pivot to remain horizontal.

TBM Kirsten was named earlier this year by local student Kobe Burnes as part of the Snowy 2.0 Tunnel Boring Machine Naming Competition, which highlighted leading Australian women in STEM.

News

LOCAL PRECAST FACTORY LAUNCHED FOR SNOWY 2.0

18/10/2021

LOCAL PRECAST FACTORY LAUNCHED FOR SNOWY 2.0

Snowy Hydro has launched its new Snowy 2.0 precast factory in Cooma, where 130,000 concrete segments are being produced locally to line the tunnels for the major pumped-hydro project.

Snowy 2.0 is a nation-building project that will underpin thousands of megawatts of renewables and will continue to keep the lights on for generations to come.

The $5.1 billion Snowy 2.0 project is powering ahead, delivering jobs and significant economic benefit to the regions. More than 1,200 people are already working on the project including over 220 jobs during the segment factory construction and operation.

Snowy Hydro CEO and Managing Director Paul Broad said he was pleased to see many locals employed at the factory as part of Snowy 2.0.

“Right from the start, we wanted to build this factory locally rather than import segments from overseas or interstate because it meant local jobs, opportunities and investment,” Mr Broad said.

“So it’s with great pride that we celebrate the official launch of this critical facility for Snowy 2.0 alongside our principal contractor and factory operator Future Generation Joint Venture.”

The factory operations include a concrete batching plant and two automated carousels, producing up to 24 rings, each one made of nine segments, per day.

Raw materials are sourced from the local area to mix concrete within the batching plant, which is then transferred into the factory and poured into specially-designed moulds every 10 minutes.

In a recycling initiative, around 70,000 tonnes of slag – a by-product of the steel manufacturing process – is used to produce the segments. This reduces the amount of cement required by 40 per cent.

The segments will supply the three Snowy 2.0 tunnel boring machines as they excavate and line more than 27 kilometres of tunnels between Tantangara and Talbingo reservoirs.

The Lady Eileen Hudson TBM is well underway excavating the main access tunnel (currently more than 600 metres in), and the second machine, TBM Kirsten, is being assembled ready for commissioning and launch.

Snowy 2.0 project background: Snowy 2.0 will link two existing Snowy Scheme reservoirs, Tantangara and Talbingo, with 27km of waterway tunnels and a power station with six pump-turbines located about 800m underground. Water in the top storage will be released for energy generation at times of peak demand and pumped back at times when there is excess energy in the grid, so Snowy 2.0 is ready to meet demand when needed.

News

NEW COOMA ACCOMMODATION DEVELOPMENT FOR SNOWY 2.0

11/02/2021

Construction is underway for a $19 million, 126-bed accommodation development to house Cooma-based workers for the Snowy 2.0 pumped-hydro renewable energy project.

Snowy Hydro and Snowy 2.0 principal contractor Future Generation Joint Venture celebrated with a sod-turning ceremony at the site today.

Known as Joule Ridge, the accommodation investment is another significant contribution by Snowy Hydro to the local region’s economy and supports the thousands of jobs created by Snowy 2.0, said CEO Paul Broad.

“Snowy 2.0 is ramping up and with 4,000 jobs being created over the life of the project, it’s an important part of our project planning to build this accommodation at Joule Ridge.

“It will provide more than 120 beds for Snowy 2.0 workers including some of those working at the Polo Flat Segment Factory, the Future Generation office and other local areas.

“Joule Ridge will also address some of the social pressures that come with economic growth, such as a shortage of housing.

“Once all accommodation construction is completed, between Joule Ridge, Lobs Hole and Tantangara, we will have capacity to accommodate almost 1,700 workers.”

There are also Snowy 2.0 workers accommodated at other locations including Cabramurra, Adaminaby and Providence Portal.

Consisting of up to 140 modular units, Joule Ridge will provide accommodation, communal facilities, parking and landscaping. Operating for the life of the Snowy 2.0 project, accommodation will be provided across 90 single rooms and 36 self-contained units.

Snowy Hydro purchased the five-hectare land parcel, which had been abandoned for several decades, specifically for Snowy 2,0 worker accommodation.

The development of Joule Ridge is being managed by Future Generation. Earthworks and preliminary construction activities will be underway within days, with Joule Ridge expected to be opened by mid-year.

For more information about the Snowy 2.0 project visit snowyhydro.com.au

News

Keeping the lights on for generations to come

26/02/2019

At Snowy, we have a proud history and a strong vision. Snowy Hydro, supercharged by Snowy 2.0, will underpin Australia’s renewable energy future and keep the lights on for generations to come.

Almost 70 years after the first sod was turned on the mighty Snowy Scheme, we will do it all again. Today, after consideration of our Board’s Final Investment Decision, we welcome Shareholder approval of Snowy 2.0.

“It’s an exciting time for our Company,” Snowy Hydro CEO Paul Broad said. “Snowy 2.0, like the original Snowy Scheme, is a nation building project that is vital to Australia’s economy and our energy transition.

“This significant expansion of the Snowy Scheme will provide the storage and on-demand generation needed to balance the growth of wind and solar power and the retirement of Australia’s ageing fleet of thermal power stations. In short, it will keep our energy system secure.

“Snowy 2.0 is not only a sound business investment for Snowy Hydro with over 8% return on investment. It also represents the most cost-effective way to ensure a reliable, clean power system for the future.

“When it is completed, Snowy 2.0 will be able to deliver 2000MW of on-demand generation, up to 175 hours of storage, and deliver more competition that will keep downward pressure on prices.

“We are committed to continuing to grow our portfolio of assets, to maximise competition in the National Electricity Market (NEM) and deliver more value to consumers,” Mr Broad said.

Last year Snowy Hydro contracted 888 megawatts (MW) of wind and solar projects which gave us incredible insights into energy pricing. This process confirmed many of the assumptions of Snowy 2.0’s business case, including that the National Electricity Market (NEM) has passed a tipping point. New renewables are now the most economic form of new generation, even when firmed by hydro or gas.

Snowy Hydro existing fast-start assets, and increased capacity with Snowy 2.0, will firm up large amounts of intermittent renewables by coming in and out of the system to ‘fill the gaps’ by generating energy at times of peak demand.

Snowy Hydro has a strong track record when it comes to pumped-hydro. For decades we’ve been successfully operating our pumping capability at Tumut 3 and that has been invaluable, especially in years of drought.

Snowy Hydro is the fourth-largest energy player in the NEM, providing much-needed competition in the market. Snowy 2.0, along with other developments, is adding to a portfolio that operates efficiently and reliably in a highly unpredictable NEM to maximise competition and drive the best outcomes for consumers.

Snowy 2.0 Exploratory Works will start immediately. The project is expected to generate up to 5000 jobs over the life of the project.