Snowy 2.0 likely to become an economic and environmental disaster

The Snowy Hydro 2.0 has been labelled "the worst possible project" for Australia's transition to renewable energy. A report into the federal government's multi-billion dollar scheme outlines huge financial and environmental costs

Source: AAP

Announced in 2017 by the-then Prime Minister Malcolm Turnbull, the Snowy Hydro 2.0 project  was to cost two billion dollars and be operating by 2021. Experts have since found that the true cost is likely to be 10 billion dollars and it is going to take eight years to build. On top of costs, the study claims it will deliver just a fraction of the energy benefits promised. There are also environmental problems; the report estimates that 100 square km of the park will be permanently damaged and 1000 hectares - home to 14 threatened species will be completely wiped out.