AI Summary

Australia’s 2.2 GW/350 GWh Snowy 2.0 pumped‑storage hydroelectricity project has a new cost estimate of AUD 22.5 billion to AUD 25 billion, with commissioning slated for 2029, according to an updated estimate from principal contractor Future Generation Joint Venture (FGJV). The project’s cost has risen steadily since its 2017 announcement, moving from an initial AUD 2 billion to AUD 3.8 billion‑AUD 4.5 billion later that year, AUD 6.1 billion in 2018, and AUD 12 billion in 2023. The latest figure reflects the cumulative escalation over the project’s development timeline.

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