NSW named top spender on public infrastructure
According to Infrastructure Partnerships Australia’s (IPA) 2019 Budget Monitor, New South Wales has…
23 April 2019
A massive expansion of the Snowy Hydro scheme is set to be the biggest hydroelectric power station in Australia after just being awarded a $5.1B contract.
Snowy Hydro 2.0 has been approved in a bid to combat climate change and force ever rising energy prices down. When completed the project will increase its generation capacity by 2000 megawatts and triple its pumping capabilities, this will provide 175 hours of energy storage which is enough to power 500,000 homes during peak time.
A joint venture made up of Salini Impregilo and Clough will undertake the civil works and electromechanical components of the Snowy 2.0 project.
Prime Minister Scott Morrison announced the approval of the scheme stating, “Snowy 2.0 will inject the energy supply and reliability our electricity market needs, helping cut costs to families and businesses and cut Australia’s emissions.”
Not only will this project cut energy costs it will also create 5000 direct and indirect jobs for Australians.
The board approved the final investment in December, and the government is satisfied the project stacks up.