Mr Morrison said the funding and delivery of the project was

uk canada goose Federal Government invests uk canada goose

innovation’Groundbreaking’ Snowy Hydro 2.0 project gets the go aheadAustralia will build the second largest pumped hydro project in the world after an $1.4 billion investment into Snowy Hydro 2.0 was announced.

Charis Chang and AAPEarly works on the pumped hydro electricity project will start within a week after Prime Minister Scott Morrison confirmed almost $1.4 billion in equity into making the project a reality.

will be one of the largest pumped hydro projects in the world, he said. only one in Iceland that bigger. is groundbreaking in every sense and it something that I think all Australians can have a great sense of excitement and pride about. This is what vision looks like. total cost of the project is expected to be between $3.8 billion and $4.5 billion according to a feasibility study. Taxpayers will chip in $1.38 billion, with Snowy Hydro to fund the rest through its canada goose online uk own internal cashflow and debt financing.

cheap Canada Goose It expected the first electricity generated from the scheme will be available by October or November 2024. cheap Canada Goose

canada goose uk shop However, there is still a question over how a transmission line will be built to deliver electricity generated from the power station to NSW homes. Mr Morrison said the funding and delivery of the project was up to the NSW Government. canada goose uk shop

Canada Goose sale Mr Morrison made canada goose outlet new york the announcement today during a visit to Tumut in southern NSW. Canada Goose sale

He said it would provide the energy supply and reliability that the electricity market needs, helping to cut costs to families and businesses and to cut Australia carbon emissions.

Pumped hydro canada goose victoria uk works by using cheap electricity usually at night to pump water back up a hill and into the dam, where it is stored until energy demands start to peak during the day.

Snowy Hydro board approved the canada goose uk customer service final investment on December 12, and the government is satisfied the project stacks up.

canadian goose jacket Energy Minister Angus Taylor says the government is confident it will be getting a good return on its investment and will release economic modelling as the project proceeds. canadian goose jacket

canada goose uk black friday very confident of the economic case, he told ABC Radio National canada goose uk size guide on Tuesday. canada goose uk black friday

When completed, the new project will increase generation capacity by 2000 megawatts and provide 175 hours of energy storage enough to power 500,000 homes during peak times.

It canada goose outlet ontario will create up to 2400 jobs in construction and support up to 5000 direct and indirect jobs across the Snowy Mountains region.

Canada Goose Jackets The Snowy 2.0 proposal was one of former prime minister Malcolm Turnbull pet projects, before he was dumped by his party for pushing canada goose vest outlet for action on climate change. Canada Goose Jackets

Canada Goose Online He commissioned a feasibility study into the plan in March 2017. Canada Goose Online

Mr Turnbull says he is pleased to see the project given the green light, describing it as key to an energy future with affordable and reliable power and lower emissions.

Canada Goose Outlet the cost of wind and especially solar becomes less with improved technology, storage is the key to reliability, he wrote on Twitter. Canada Goose Outlet

cheap canada goose uk while batteries are improving rapidly, for large scale storage the best option is Pumped Hydro, like Snowy 2.0. Picture: Sahlan Hayes/ AFP/Official Photographer to Prime Minister Malcolm TurnbullSource:AFP cheap canada goose uk

Mr Morrison gave a speech on Monday in which he promised to canada goose store tackle climate change using the Emissions Reduction Fund set up under former prime minister Tony Abbott.

He committed $200 million a year for 10 years to ensure Australia meets the 2030 target of lowering emissions by 26 to 28 per canada goose outlet store uk cent on 2005 levels.

Mr Morrison also announced $56 million to kickstart a second electricity interconnector between Tasmania and Victoria.

The Marinus Link proposal could deliver up to 2500MW of renewable hydro power to Tasmania and Victoria, including 16 gigawatt hours cheap canada goose canada goose outlet alternative of storage. The prime minister has also flagged a future announcement about an electric vehicles strategy.

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