Snowy Deal Complete
Last week the Prime Minister Malcolm Turnbull announced the Government has now taken full ownership of Snowy Hydro Limited in a deal that paves the way for the Snowy 2.0 project to proceed to a final investment decision by the independent Snowy board.
Snowy Hydro will continue to operate as an independent commercial company and, most importantly, this iconic infrastructure will remain in public ownership.
Snowy Hydro is a critical player within the National Electricity Market (NEM).
The company owns and operates 5500 MW of generation capacity including the iconic Snowy Mountains Scheme.
Snowy 2.0 is a proposed expansion of the Snowy Mountains Scheme and will provide an additional generation capacity of 2000 MW, enough to power the equivalent of 500,000 homes at peak demand.
The Snowy Hydro Board is expected to make a final iinvestment decision on the Snowy 2.0 project later this year.
Want to know more? Subscribe to Inside Canberra