https://www.gizmodo.com.au/2017/08/snowy-hydro-2-0-gets-an-8-million-funding-boost/
Will this be the next ACX mega project? A $2bn expansion of the Snowy Hydro- Snowy 2.
The $2 billion expansion of the Snowy Mountains hydro scheme, dubbed "Snowy Hyrdo 2.0", is set to be fast-tracked - with Prime Minister Malcolm Turnbull announcing today $8 million in funding towards a $29 million feasibility study on the project.
The upgrade aims to increase the 4,000 megawatt output by 50 per cent - a plan that will power up to 500,000 homes, and create 5,000 new jobs.
At the announcement Turnbull called the project, which will begin construction next year, "the biggest pump hydro scheme in the southern hemisphere."
Turnbull says the scheme will lead to lower electricity costs.
"We know there are at least a million households, probably a lot more, that are paying more for electricity than they need to because they are on the wrong plan," Turnbull said.
"So we are taking action right now to ensure Australians right now are not paying more for their electricity than they need."
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This post is based on my own research and is not investment advice. When making investment decisions, always DYOR.
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