The Australian Government has approved $1 billion for an expansion of the state-owned power generator Snowy Hydro to back up wind and solar power. The expansion is needed to support Australia’s power supply as ageing coal-fired plants shut down. The plan was pushed by former Prime Minister Malcolm Turnbull, who claimed that it as Australia’s biggest renewable energy project since Snowy Hydro was first built.
Snowy Hydro will add 2000 MW of power generation though pumped hydro. Prime Minister Scott Morrison said: “This will be one of the largest pumped hydro projects in the world. It will not only reduce electricity prices and take the pressure off electricity prices, it will also create reliable electricity supply.”
First output from the expansion, set to increase Snowy Hydro’s capacity by 50 per cent, is expected in late 2024.