Major $5.1bn contract for Snowy 2.0 awarded to Future Generation JV
A major $5.1 billion contract for the delivery of the multi-billion dollar Snowy Hydro expansion - also known as Snowy 2.0 - has been awarded by Snowy Hydro Limited to Future Generation, a joint venture between Clough and Salini Impreglio.
In January of this year, Snowy Hydro Limited announced the three tenderers - including Future Generation - who are set to be awarded contracts to deliver the massive Snowy 2.0 project.
Future Generation will undertake engineering, procurement and construction (EPC) for the project, making the joint venture the main contractor for Snowy 2.0. Works under this contract will include main civil works and electro-mechanical works - which is going to be delivered together with Voith Hydro.
“We are extremely pleased by the award of this iconic project and are highly motivated to start delivering. Continuing to build our relationship with Snowy Hydro Limited, we move past the preferred tenderer phase and now to final contract award. Our team is very excited to launch this project into its execution phase and to contribute our part into the advancement of Australia’s sustainable energy future,” Clough CEO and Managing Director Peter Bennett said.
Source: Snowy Hydro
The Snowy 2.0 project will comprise of connecting the two Snowy Scheme dams - Tantangara and Talbingo - via underground tunnels as well as the construction of an underground power station that has the capability to pump.
Construction of Snowy 2.0 is anticipated to support up to 5,000 jobs.
Once Snowy 2.0 is operational, it will be able to add approximately 2,000MW of generated energy and provide up to 175 hours of stored energy to the National Electricity Market (NEM).
Snowy 2.0 is expected for its first power generation by late 2024.
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Source: Snowy Hydro (1, 2); Clough; Salini Impreglio
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