Snowy Hydro 2.0 has blown out to 12 times its original cost – but the CEO says it ‘could have been worse’
The Snowy Hydro 2.0 renewable energy project in Australia has seen its costs balloon to $25 billion, twelve times the original estimate. Completion of the project has been delayed until 2029 due to ongoing construction challenges.
Why it matters
The massive cost overrun and delays highlight significant challenges in managing large-scale government-funded infrastructure and renewable energy projects.
Work has begun on a new underground power station as part of the now $25bn Snowy Hydro 2.0, but the project is still almost a decade behind schedule. Photograph: Snowy Hydro Work has begun on a new underground power station as part of the now $25bn Snowy Hydro 2.0, but the project is still almost a decade behind schedule. Photograph: Snowy Hydro Energy Snowy Hydro 2.0 has blown out to 12 times its original cost – but the CEO says it ‘could have been worse’ New projections by the Snowy Hydro company show tunnelling work is now 65% finished, but the completion date has been pushed back to 2029
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