Officials say country currently has a competitive advantage but urgently needs funds to stay relevant

The tech giant is funding one of the nation’s largest “virtual power plants,” which would pay homes and businesses to adjust their energy use when grids are strained.

© Bizuayehu Tesfaye/Las Vegas Review-Journal/Tribune News Service, via Getty Images

New projections by the Snowy Hydro company show tunnelling work is now 65% finished, but the completion date has been pushed back to 2029

• Get our breaking news email, free app or daily news podcast

The cost of Snowy Hydro 2.0 has blown out to as much as $25bn, with a major reassessment finding the long-delayed renewable energy project will not be completed until the end of the decade.

First touted by the Turnbull government in 2017 with a price tag of $2bn, the cost of the project in the Kosciuszko national park has increased dramatically over time. In 2023 it was revised to almost $13bn, with construction due to completed by the end of 2028.

Continue reading...

© Photograph: Snowy Hydro

© Photograph: Snowy Hydro

© Photograph: Snowy Hydro