News

SNOWY 2.0 COST REASSESSMENT COMPLETE

22/10/2026
  • Target cost following contractor reassessment is $22.2 billion, with Snowy allowing for a cost scenario of $25 billion.
  • The project is now targeting to be fully commissioned in late 2029.
  • Machine tunnelling is 65% complete and cavern excavation 90% complete, with work to build the underground power station underway.
  • Snowy Hydro continues to strengthen oversight, controls and leadership to drive contractor productivity and cost performance, while prioritising safety.
  • Snowy Scheme expansion to provide long-duration energy storage equivalent to around 26 million home batteries, enough to power 3 million homes for a week.
  • GHD analysis shows substantial economic benefit, including the project adding $18.3 billion to the Australian economy. 
  • Snowy 2.0’s long-term asset life means it is predicted to reduce wholesale electricity prices by more than $7 billion to 2075.

Snowy Hydro today announced the updated target cost to complete Snowy 2.0 is $22.2 billion, with an allowance for a cost scenario of $25 billion, following a comprehensive cost reassessment by principal contractor Future Generation Joint Venture (FGJV). 

The higher cost scenario reflects Snowy 2.0’s uniqueness, risk and technical complexity, as well as FGJV’s cost estimation challenges.

Snowy Hydro CEO Dennis Barnes said the cost reassessment, which was subject to rigorous scrutiny and assurance by multiple layers of engineering cost experts, also updated the project’s schedule.

The new target completion date for Snowy 2.0 is late 2029.

The $22.2 billion target cost is not the amount that will have to be funded by taxpayers.

At the previous $12 billion cost estimate, around one-third or $4 billion, was Commonwealth investment in the company that Snowy Hydro did not need to repay.

The majority was funded by government and bank loans that as a profit-making business, Snowy must repay with interest, as well as Snowy’s own cashflows.

Work is underway on the Commonwealth’s preferred capital strategy at the new cost.

Mr Barnes said that while the cost increase is disappointing, the actions taken during the 2023 reset have protected the project from an even larger budget increase.

“I have no doubt that moving from a fixed price contract, which was never suitable for such scale, uniqueness and complexity, has protected the project from an even greater cost increase,” he said.

“It’s also likely that under a fixed price contract, the project would again be stopped under the weight of billions of dollars of claims from the contractor, as it was prior to the reset.”

Mr Barnes said the long term value of Snowy 2.0 to Australia’s energy reliability is stronger than ever.

“The scale of Snowy 2.0’s energy storage is world-leading. More than half of the total energy storage the grid needs by 2050 will come from Snowy 2.0 alone,” he said.

“Like the original Snowy Scheme, which still underpins energy reliability more than 70 years on, Snowy 2.0 is a generational investment in our energy sovereignty and a national asset owned by all Australians.”

The pumped hydro expansion of the Snowy Scheme will provide 350,000 megawatt-hours of storage, equivalent to around 26 million home batteries. 

“Snowy 2.0’s massive, long-duration storage will be the grid’s insurance policy against multi-day wind and solar droughts, helping to prevent blackouts and control price spikes that would otherwise flow through to household electricity bills,” he said.

An independent economic study conducted by GHD on the delivery and operation of Snowy 2.0 found widespread benefits to national and regional economies, including:

  • Generating significant economic activity, with around 80% of the project’s budget being spent in Australia.
  • Contributing $18.3 billion to the Australian economy during the delivery phase alone.
  • Reducing wholesale electricity costs by more than $7 billion to 2075.

The cost reassessment found the primary reasons for the increased project cost were: 

  • Detailed technical analysis continuing to identify the scale and nature of the design immaturity of the project when the final investment decision was made.
  • Construction complexities contributing to principal contractor FGJV not meeting productivity targets.
  • Cost and planning underperformance by FGJV leading to previous underestimating of the delivery scope.
  • Global cost escalation for equipment, services and people exceeding allowances made at the 2023 contract reset.

Snowy Hydro has taken action to strengthen the project’s delivery and cost performance, including:

  • Directing FGJV to establish a project control office with enhanced data and analytics to drive productivity and identify emerging risks early, which is now operational.
  • Embedding independent infrastructure delivery and cost experts in the project to bolster delivery oversight. 
  • Establishing a new board oversight committee including external megaproject advisors to monitor and take action on progress and risk.
  • Driving changes in FGJV’s leadership on the project, including a new Project Director, responsible for daily cost and schedule performance on the ground, and a broad uplift with more senior, globally experienced megaproject leaders.

The contract established at the 2023 reset has strong provisions that motivate FGJV to manage cost and program, and meet criteria relating to safety, environment and quality.

Snowy Hydro will use these mechanisms to drive the best project outcomes and value for money.

“We’re now much further through the project than at the 2023 reset, meaning we’ve learned more and more risk is behind us,” Mr Barnes said.

“At the reset, only 44% of the construction design had been completed, now it’s 96%.

“While there are still risks to manage, the project is in its strongest position yet.”

With more than 5,000 people currently working on the project, this year:

  • Underground power station construction has started, marking a new phase of Snowy 2.0’s development.
  • Decommissioning tunnel boring machine (TBM) Lady Eileen Hudson has started, after completing its second tunnel, following 8.6-kilometres of tunnelling.
  • TBM Florence is almost at the halfway point of its 15-kilometre tunnelling journey.
Work frontCurrent progressProgress at reset
Drill and blast tunnels95%20%
TBM tunnels65%19%
Power station complex excavation90%2%
Construction design96%44%
News

FUNDING SECURES HERE 2 HELP CHILDREN’S PROGRAM AT TURA LIBRARY

12/10/2026

Bega Valley Shire Library has welcomed two years of funding support from Snowy Hydro to sustain its Here 2 Help Children’s Program at Tura Library, ensuring migrant families in the region continue to access vital early learning and settlement services.

The funding was celebrated at a launch event at Tura Marrang Library last week, bringing together representatives from Council, Snowy Hydro, TAFE NSW, program participants and volunteers to mark the continuation of the partnership.

“We are extremely grateful for this funding, which recognises the value and impact of the Here 2 Help Children’s Program,” Council’s Community and Cultural Services Manager, Yvette Parker said.

“The program provides a welcoming space where children can learn, play and build confidence, while their parents receive critical support to develop language, education and employment skills.

“It has become an important pathway for helping new families feel connected, supported and able to fully participate in community life.”

Bega Valley Shire Council Mayor Russell Fitzpatrick said the partnership demonstrated the positive impact that could be achieved when organisations worked together to support new families.

“Celebrating the launch of this partnership was a great opportunity to recognise the difference Here 2 Help is making for families across our community,” Mayor Fitzpatrick said.

“Programs like this help children get the best possible start while giving parents the support and confidence they need to build their lives here in the Bega Valley.

“It’s wonderful to welcome Snowy Hydro’s support and working together to create stronger connections and a more inclusive community.”

Snowy Hydro’s Head of Social Impact and Community Sarah Norris said the collaboration would help support the smooth integration of migrant families into the region, while strengthening the region’s vibrant social fabric

“We’re delighted to partner with Bega Valley Shire Council to ensure new families feel supported, connected and truly at home in Bega Valley ,” Ms Norris said.

“Through Snowy 2.0, Snowy Hydro and principal contractor Future Generation Joint Venture have engaged 29 local businesses and invested more than $6 million in the Bega Valley Shire.

“The Here 2 Help program provides English language tuition, settlement support, driver education and employment readiness assistance to many migrant families in the Merimbula area, including families of the Snowy 2.0 project workforce.”

Over the last two years, the program has been delivered through a collaboration between a TAFE NSW facilitator, community multicultural facilitator, Cayce Hill, dedicated library volunteers and library staff.

The children’s program is an essential component of the broader Here 2 Help adult literacy and numeracy hub and delivers a structured early literacy experience for young children from culturally and linguistically diverse backgrounds.

Importantly, the children’s program also enables parents participating in Here 2 Help to spend uninterrupted one-on-one time with tutors.

The program also helps volunteers to develop new skills and play an integral role in building a stronger, more inclusive community.

First established at Bega Library in 2022, Here 2 Help expanded to Tura Library in 2024 in response to growing demand and due to the absence of comparable services in the area.

“Without this secured funding and support from Snowy Hydro, the long-term future of the Here 2 Help program at Tura Library would be at risk,” Ms Parker said.

For more information on the Here 2 Help program, visit the Library website.

News

52 YEARS NOT OUT FOR LONG-SERVING LARRIKIN TONY

09/10/2026

When Tony Werrett joined Snowy Hydro on October 14 1974, the Sydney Opera House had only just opened, black-and-white TVs were still the norm and Advance Australia Fair was newly inked as our national anthem. 

While the years have been kind to this Khancoban-based larrikin since, he’s met plenty of characters, spun plenty of yarns and become Snowy’s longest-serving employee in the process. 

Born in Melbourne’s south-eastern suburbs, the Werrett family headed north up the Hume and settled on an Upper Murray beef and dairy farm in 1966.

Joining the Snowy as an 18-year-old, Tony’s journey has spanned fires, floods and remote high country wilderness. 

Over 52 years, he tackled everything: high-voltage tower work, plumbing, cloud seeding, carpentry and civil maintenance across the Murray region.

Tony’s early days were spent living in spartan bush camps near Geehi Dam.

An avid outdoorsman who has trekked Everest and explored Antarctica, he still considers Geehi “the most beautiful place on Earth”.

Working in the bush came with wild stories and high-voltage close calls. 

Tony once struck a live line with a crowbar, lighting up “like a neon sign”. 

Another time, a wild gust of wind while pruning a tree near a 330kV line and a resulting arc caused a singed beard and an X-rayed silhouette. 

Over five decades, Tony witnessed the Snowy Scheme evolve from manual linesman work to complex automation and remote telecommunications. 

He also spent 16 years maintaining the remote trailer sites and precipitation monitors for Snowy’s now-defunct cloud seeding operations.

Despite clocking over half a century of service, Tony shows no signs of slowing down and rides his beloved pushie, adorned with a personalised Snowy plate, to work daily. 

When asked to reflect on what’s kept him going for more than half a century, his response was simple.

“Khancoban is a great place to bring up a family, it’s quiet and there’s no crime, you can let the kids run around the place,” Tony said.

“I still really enjoy my job and it’s enjoyable, you feel pretty good when you’re showing most of these young blokes up!”

News

CONCRETE PROGRESS AS UNDERGROUND POWER STATION STARTS TO TAKE SHAPE

20/09/2026
  • Work to build Snowy 2.0’s underground power station has begun, marking a new phase of the project.
  • All six reversible turbines have arrived in Australia as teams prepare to install major components.

A hydroelectric station the size of the Sydney Opera House is starting to take shape almost a kilometre underground on Australia’s most critical energy security project.

The team of more than 5,000 people working to bring Snowy 2.0 to life has begun permanent concrete pouring underground, setting the stage to assemble the project’s six turbines.

With excavation in the massive machine and transformer halls almost 90 per cent complete, engineering teams are turning their attention to the internal fit-out of the power station.

Crews are preparing to install major components, including massive inlet valves and spiral casings designed to channel water that will fuel the generators.

Excavation is complete for the six connector tunnels between the transformer hall and machine hall that will be packed with specialised electrical equipment to channel power from the six generators to high-voltage transformers and on to Australian homes and businesses.

Over the coming months, construction crews will place the first of more than 1,400 pieces of precast concrete that will house the power-generating kit, including transformers weighing more than 400 tonnes each.

Snowy 2.0 has also taken delivery of all six reversible turbines, while the project’s power-generating high-voltage transformers are currently undergoing final testing.

Snowy Hydro CEO Dennis Barnes said reaching this stage required an extraordinary level of logistical coordination, safety focus and strict quality assurance.

“Fit-out in our underground powerhouses is an extremely precise and detail-oriented process,” Mr Barnes said.

“We’re building some of the widest and deepest power station caverns in the world.

“Transitioning into the fit-out phase of an underground station the size of the Sydney Opera House is a landmark engineering achievement that we’re all extremely proud of.

“The skill of the workforce behind Snowy 2.0 is incredible. From the army of skilled local talent to top hydropower experts from across the globe.”

Snowy 2.0 is critical to Australia’s future energy mix. Its world leading 350GWh of energy storage will be the equivalent to around 26 million home batteries. Its ability to store excess wind and solar energy will help ensure the grid’s reliability and place downward pressure on wholesale electricity prices.

“This project is a testament to Australian ambition and a vital investment in our energy future.

“Snowy 2.0 is designed to operate for 150-years and will help safeguard our energy sovereignty and keep the lights on for generations,” Mr Barnes said.

In October 2025, Snowy Hydro announced it had instructed Snowy 2.0’s principal contractor Future Generation Joint Venture to undertake a cost reassessment.

After receiving advice from independent construction cost experts, Snowy Hydro is considering the commercial and practical implications to inform its advice to the government.

News

KURRI KURRI POWER STATION UPDATE

06/07/2026

Having completed commissioning on Kurri Kurri Power Station’s (KKPS) primary gas fuel earlier in the year, Snowy Hydro is ready to complete the final stage of commissioning using the back-up diesel fuel. 

Testing is expected to commence on or after Friday, 10 July 2026. It will take place at night, over the course of about four weeks, although the number of nights may change depending on commissioning outcomes. 

During diesel testing last year, the intensity of the plume and odour was greater than we anticipated. While there will still be some odour and plume, we do not expect this over an extended period.

We have learned from last year’s events and community impacts, and have worked with the manufacturer to ensure we are doing everything possible to minimise impacts. This includes:  

  • Night time only testing: Testing will take place overnight for approximately four weeks, depending on the weather. We will test one generator at a time to minimise noise and odour. 
  • Optimised start-ups: We have worked closely with the turbine manufacturer to reduce the time required to run in the mode that is most likely to cause plumes or odours. 
  • 24/7 support: We have a dedicated community team on-site 24 hours a day, 7 days a week during the testing window. This team will work with our commissioning team to investigate and respond to any resident concerns immediately.

When fully operational, Kurri Kurri Power Station is expected to run only on those occasions when electricity demand is high and renewable supply is limited. It will operate using gas as its primary fuel, with diesel being used as a backup only when required.

Kurri Kurri Power Station will play an important role in ensuring electricity reliability and enabling Australia’s transition to renewable energy. It will provide 660 megawatts of electricity when it’s needed most, allowing more wind and solar generation to enter the grid.

If community members have any questions or concerns, we encourage them to call the Snowy Hydro Community Hotline at 1800 570 529 or email community@snowyhydro.com.au, or get in touch with us via our social media channels.

For more information and to view the testing schedule, visit the Kurri Kurri Power Station community page.

News

SNOWY HYDRO RELEASES 2025 COMMUNITY BENEFITS REPORT

24/04/2026

Snowy Hydro has today released its 2025 Snowy Mountains Community Benefits Report, detailing its extensive social and economic impact across the region.

The report outlines how Australia’s transition to renewable energy is delivering tangible, on-the-ground benefits to the communities Snowy has called home for more than 75 years.

Throughout 2025, Snowy Hydro sustained a local direct workforce of 713 Snowy Mountains residents, generating $104 million in salaries that flowed directly back into the local economy. Additionally, Snowy spent $26.8 million across more than 300 local suppliers, while Snowy 2.0 contributed an additional $32.3 million to the regional economy over the 2025 calendar year.

Snowy Hydro Chief Corporate Affairs Officer Scott MacKillop said the report is a testament to the enduring relationship between the nation-builder and the local communities it serves.

“Since the first blast on the construction of the Snowy Scheme, Snowy has been a part of the Mountains and we’re deeply committed to the region that continues to enable our future.

“We are working side–by-side with communities across the Snowy Monaro, Snowy Valleys and beyond to support our local towns to thrive. Our success as a business is deeply intertwined with the prosperity of the Snowy Mountains.”

Beyond direct employment and procurement, Snowy continues to foster grassroots initiatives with over half a million dollars awarded to local schools and organisations in 2025. The Community Grants Program awarded $407,000 to 76 community groups and $212,000 went to 28 schools via the Snowy STEM Academy Schools Fund.

Snowy also continues to help build a year-round visitor economy, with the Snowy Hydro Discovery Centre welcoming more than 111,000 visitors last year and providing ongoing support for regional tourism events.

“This report shows what is possible when we focus on working together, creating shared value and backing the things that matter locally,” said Mr MacKillop.

“From empowering the next generation through our STEM Academy, to backing the grassroots organisations that sit at the heart of our communities, this is about showing up in the right way and doing the work alongside people, not for them.

“I’m incredibly proud of the strong partnerships we’ve built with local community groups, schools and not-for-profits across the region as we work together to build a resilient future.”

Read Snowy Hydro’s first ever Snowy Mountains community benefits report here.

News

SNOWY HELPS DRIVE NEW TUNNELLING STANDARDS

04/03/2026

Snowy Hydro has taken a lead role in modernising industry tunnelling standards to enhance protections for underground workers across NSW.

Snowy 2.0 underground tunnelling safety lead Brogue Rinebarger was part of a working group that helped to draft new ways of working to replace the 2006 tunnels and shafts in construction code of practice.

Brogue and working group.

Snowy 2.0 features more than 40 kilometres of underground tunnels at its Lobs Hole, Tantangara and Marica sites.

SafeWork NSW Riverina Murray operations manager David Jones said Snowy Hydro played a “significant role” in updating the code to better meet modern safety standards and reflect new ways of working.

“Snowy also provided information and guidance to ensure health and safety risks from tunnels and shafts in construction are safely managed in accordance with current work health and safety laws,” the spokesperson said.

Snowy 2.0 General Manager of Health, Safety and Environment Lisa McKeown said real-world insights would help to elevate benchmarks across the tunnelling sector.

“By sharing our practical experience from one of Australia’s most complex engineering projects, Snowy Hydro is helping to ensure underground workers in NSW benefit from the highest possible safety standards.”

The new code is expected to be released by mid-2026.

News

MONICA MAKES HER MARK ON SNOWY 2.0

01/02/2026

Snowy 2.0 has reached a major milestone with the commissioning of its fourth tunnel boring machine, with the renewable energy mega-project now more than 70 per cent complete.

Named in honour of Monica Brimmer, a talented Tumut High School student and winner of a First Nations art and storytelling competition, the machine was powered up during a ceremony on-site.

Joined by Climate Change and Energy Minister Chris Bowen on-site, Monica radioed in instructions for the first rotation of the TBM’s huge 12-metre cutterhead to applause from local community members and workers in attendance.

TBM Monica is among the world’s most advanced tunnel boring machines. It has been purpose-built to tackle the Snowy Mountains’ unique and highly variable geological conditions.

Launching from the project’s Marica worksite, just outside Kiandra, TBM Monica will begin tunnelling in the coming weeks and will excavate the portion of the 17-kilometre headrace tunnel that passes through the geologically challenging Long Plain Fault Zone.

The commissioning milestone comes as significant progress is made across the project’s worksites in the NSW Snowy Mountains.

Almost one kilometre underground at the project’s Lobs Hole worksite, the focus is shifting from tunnelling and excavation to preparing the intricate fitout of an complex underground power plant the size of Sydney Opera House.

To prepare for this, 46 permanent concrete pours have already been completed.

More than 733,000m3 of underground excavation – equivalent to 293 Olympic-sized swimming pools of material – has taken place in the huge subterranean caverns that were created using drill-and-blast techniques, some of which were pioneered on the original Snowy Scheme.

More than 5,200 workers are delivering Snowy 2.0 across four major project workfronts and in excess of $300 million has been invested in the local economy.

News

NEW EV CHARGING STATIONS POWERING THE SNOWY VALLEYS

23/12/2025

The Snowy Valleys continues to enhance its appeal to electric vehicle (EV) drivers, with new chargers now operational across the region, boosting both convenience and connectivity for locals and visitors alike.

Thanks to a partnership between Snowy Hydro and Snowy Valleys Council new public charging stations have been installed at Talbingo, Tumbarumba, Adelong, Khancoban and Tumut.

Snowy Valleys Council Mayor Julia Ham said the project was a major step towards a more sustainable future.

“We are proud to collaborate with Snowy Hydro to bring this vital infrastructure to our community. By installing EV chargers, we can attract more visitors to our region, improve their experience, and encourage longer stays in our townships.

“Expanding EV infrastructure also supports clean energy adoption and strengthens our region’s reputation as an environmentally conscious destination.” 

Snowy Hydro Head of Social Impact and Community Sarah Norris said partnering with the Snowy Valleys Council to deliver EV chargers to the region will make it easier for residents and tourists to the region to reduce their carbon footprint.

“We know more people are using EVs, however the availability of charging infrastructure can be a barrier for tourism to regional communities. Through our partnership with Snowy Valleys Council, we’ve been able to support the delivery of nine EV charging stations in towns such as Adelong and Tumbarumba.

“Snowy Hydro has a proud history of supporting the communities where we operate. This is a tangible way for Snowy Hydro to help people to lower their carbon footprint, attract more visitors to the region, and ensure the local economy continues to thrive.” 

In Tumut, two centrally located EV chargers have been installed in the Coles car park, just a short stroll from the town’s main street. The location offers drivers the perfect opportunity to recharge while enjoying the many cafes, shops and services Tumut has to offer.

Tumbarumba’s two new units are live in Union Lane. These chargers add to the existing unit at the Tumbarumba Sportsground, which was delivered in partnership with the Tumbarumba Chamber of Commerce. Together, they significantly increase accessibility and support the town’s growing visitor economy.

In Talbingo, EV drivers can now recharge near the heart of the shopping precinct and just moments from the picturesque foreshore of Talbingo Dam. Located within 100 metres of a public BBQ area and an adventure playground, the site offers a family-friendly recharge experience.

Adelong’s new charger is now operating in Golden Gully Park, providing access to nearby amenities including public toilets, a playground and the scenic Falls Creek walk. The charger is also within easy walking distance of the historic main street, encouraging visitors to explore the town while they top up.

Khancoban is also on the map, with two new chargers installed in the central shopping centre car park. This key location ensures convenient access to local services and further supports the town’s role as a gateway to alpine adventures.

The 22kW dual-port chargers with dedicated parking spaces are set to attract more day trippers and encourage longer stays and position the Snowy Valleys region as an increasingly attractive destination for eco-conscious visitors.

Council received funding for the initiative from the Department of Climate Change, Energy, the Environment, and Water’s EV Destination Charging Grants, part of the $20 million Drive Electric NSW program.

News

KEEPING OUR TRAIL SAFE: UPDATE FOR CYCLISTS AND TRAIL USERS

19/12/2025

Snowy Hydro and the Snowy Monaro Regional Council are continuing their collaborative efforts to enhance safety on the Jindabyne Shared Trail along the Jindabyne Dam Wall, following valuable community feedback.

We are making steady progress toward a long-term solution that effectively balances trail access with safety requirements. Identifying a safe and permanent path/cycleway design has been complex due to the unique structure of the dam and the limited available space. We sincerely appreciate your patience and understanding as we prioritise delivering a committed, safe solution for all trail users.

For your safety and the safety of others, we appreciate your cooperation in adhering to the current safety requirement for all cyclists. All cyclists must dismount at the barriers and walk their bikes across the dam wall.

We will provide further updates on the project’s progress as soon as the design and planning components are finalised.

Discover more great riding routes and bike parks in the region by visiting Snowy Mountains Directory. Simply filter by location and MTB to explore some of the best trails around our region.

You can also check out Great Southern Trails for more info on riding trails across The Snowy Mountains.


News

SNOWY 2.0 HONOURS SACRED TUNNELLING DAY

05/12/2025

The most sacred day for tunnellers, miners and underground workers was marked by a poignant Snowy 2.0 ceremony on December 4.

Workers gathered to celebrate St Barbara’s Day at the Marica worksite, metres away from TBM Monica – the huge new boring machine being assembled on the project.

The patron saint day itself stretches back centuries and is a tunnelling institution across the globe.

Statues are typically installed and blessed at new tunnel entrances, providing luck and safety for underground workers.

Indeed, the practice of naming TBMs after females is also inspired by St Barbara.

St Patrick’s Cooma parish priest Fr Mark Croker explained the significance of the patron saint’s story during the blessing ceremony.

“The story of St Barbara shows us the power of faith, it shows us the power of courage,” he said.

“For miners, these values were vital in their daily work and they remain inspiring for all of us in those difficult times all of us face daily.”

Snowy Hydro Chief Delivery Officer – Snowy 2.0 Dave Evans said December 4 was a special day.

“St Barbara’s Day means a lot to me and to our workforce … and is a way of recognising that while tunnelling is really challenging work, it’s about talking about both our successes and safety,” he said.

“While tunnellers can come across at times as perhaps as gruff people and tough people, there’s a lot of superstitions that run deep, especially in tunnelling.”

Mr Evans said an incredible amount of work had taken place to prepare for the launch of the new “monster” 200-metre long TBM in the new year.

“This machine is extremely complicated – its parts are sourced from across the world all needing to be pulled apart and pieced back together here on a remote construction site,” he said.

News

SNOWY HYDRO LOCKS IN LONG-TERM WIND AND BATTERY CONTRACTS

28/11/2025

Snowy Hydro continues to strengthen its critical role underpinning reliability while enabling Australia’s renewable energy transition with the signing of major energy contracts with Aula Energy and TagEnergy, securing new capacity in wind generation and grid-scale battery storage.

The long-term Power Purchase Agreement (PPA) with Aula Energy will see Snowy procure 120 MW of renewable energy from the Carmody’s Hill Wind Farm in South Australia.

Snowy has also signed a 15-year, 105 MW, four-hour virtual toll agreement with TagEnergy for the 150 MW Golden Plains BESS in Victoria.

Snowy earlier this year signed a 15-year, 220 MW, four-hour virtual tolling agreement with Akaysha Energy for the 311 MW Elaine BESS. The combined 325 MW of battery storage enhances Snowy’s ability to offer cost-effective solutions to mass-market, large-scale commercial and industrial, and wholesale customers.

Snowy Hydro CEO Dennis Barnes said the new contracts underscore the importance of on-demand and flexible capacity to ensure the National Electricity Market (NEM) remains reliable as baseload power options like coal retire.

“The agreements with Aula Energy and TagEnergy bring Snowy’s contracted wind, solar and battery storage capacity close to 2,200 MW and fosters the development of over 3,600 MW of renewables and firming projects in Australia, bolstering our ability to support Australia as it transitions to renewable energy.

“Our unmatched mix of on-demand power and pumped hydro energy storage is what makes renewables work, enabling three times the clean wind and solar to come online.

“These new contracts enhance our role as an end-to-end generator and retailer, supporting the strong growth of Snowy’s retail brands, which now serve more than 1.6 million retail customers.”

Aula Energy – Carmody’s Hill Wind Farm, South Australia
The 15-year PPA for the Carmody’s Hill Wind Farm reinforces Snowy’s position as a major enabler of renewable generation.

Expected to commence supply in early 2029, will support our retail load growth in South Australia.

“South Australia is a leader in Australia’s energy transition, and this agreement with Aula Energy reflects our confidence in the quality and strategic importance of Carmody’s Hill Wind Farm and the South Australian market,” said Mr Barnes.

Aula Energy CEO Chad Hymas emphasised the importance of enduring strategic customer relationships to help lead Australia’s energy transition.

“Securing this PPA with Snowy is a major step forward for Carmody’s Hill Wind Farm and for our commitment to deliver reliable, renewable energy in South Australia. Snowy’s leadership in the energy market reflects their position as a key customer driving change as we work towards a sustainable future.”

TagEnergy – Golden Plains BESS, Victoria
The Golden Plains BESS is expected to commence operations in late 2027 with Snowy securing a 15-year virtual tolling product for 105 MW, 4 hour capacity. For Snowy, this deal delivers the benefits of accessing storage products in the National Electricity Market without the construction and capital burden.

The Golden Plains BESS will work closely with Snowy’s current hydro assets and long-duration pumped hydro storage, including the Snowy Scheme and the Snowy 2.0 expansion to dispatch energy into the grid at peak times and remove excess when demand is low.

“We’re pleased to expand our partnership with TagEnergy, having previously secured 40 per cent of the supply from Stage 1 of their nearby Golden Plains Wind Farm. This new virtual storage agreement complements our portfolio of on-demand generation and gives us the fast-start power we need to quickly soak up excess wind and solar, and stabilise the grid at times of volatility,” said Mr Barnes.

TagEnergy Managing Partner Andrew Riggs highlighted the role of the Golden Plains BESS in the grid.
“The addition of large-scale energy storage at Golden Plains is another important step forward in achieving a more secure and flexible supply of clean electricity for the people of Victoria. It’s great to continue working with Snowy who has been an important partner for Golden Plains Wind Farm.”