The Clean Energy Finance Corporation (CEFC) is investing $125million1 into the development of the Snowy 2.0 pumped hydro project.
The investment by the CEFC into critical infrastructure will connect Snowy 2.0 to the National Energy Market (NEM), making it the largest generator connecting to the NSW grid for more than thirty years. In partnership agreement with TransGrid Services, the project will potentially link existing and new infrastructure and deliver clean and cost-effective electricity to its customers.
TransGrid will design, operate and maintain a new 330kV switching station and associated transmission lines. The Snowy 2.0 project is also expected to provide a boon for the economy, and will create up to 40002 jobs during its construction. Once complete, Snowy 2.03 will offer large scale energy storage, and quick-start electricity generation in peak demand providing critical security and reliability to the NEM.
Renewable energy infrastructure assets are crucial to the nation’s post-pandemic recovery and our cleaner, greener future.
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