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Australia ‘going for second best’ with Snowy Hydro as Finland unveils new nuclear reactor

May 15, 2024 - 8:06PM

Menzies Research Institute Senior Nick Cater has praised Finland’s Olkiluoto 3 nuclear reactor which is “considerably cheaper than Snowy Hydro” and produces 1.6 gigawatt of power.

It comes as Labor is set to spend $7.1 billion on the Snowy Hydro 2.0 project over the next four years.

“We are obviously going for second best,” Mr Cater told Sky News Australia host Peta Credlin.

“Chris Bowen’s continual claim that renewables are cheaper doesn’t stack up as soon as you get to a country like Finland where they are actually doing the sensible thing and pushing ahead with nuclear.”