Australian power group Snowy Hydro has completed the feasibility study for the government-backed Snowy Hydro 2.0 hydropower project, which would add 2 GW to the existing 3.8 GW Snowy Hydro pumped-storage hydropower complex. The feasibility study demonstrates that the project is both technically and financially feasible. However, its current estimated costs range between A$3.8bn and A$4.5bn (US$2.9-3.5bn), much higher than the A$2bn (US$1.5bn) initially planned.
The Snowy Hydro hydropower complex consists of the 1,500 MW Murray dam commissioned in 1967-1969 and of the Tumut complex (616 MW commissioned in 1959-1962, 1,500 MW added in 1973 and 150 MW added through an upgrade in 2013). The project was designed to allow further extensions.
The project will progress to final investment decision (FID) in late 2018, subject to the approval of Snowy Hydro's shareholders. The project is expected to be completed about 7 years from FID, with first power generation in 2024.