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Results Chart for Delivery Method and Financing
From Public (Government) Sources to Producers: In March 2018 the Federal Government of Australia acquired all the shares of Snowy Hydro from the state governments of New South Wales and Victoria, for more than $6 billion (AUS). Favorable long term supply agreements with solar and wind generators for supply of off-peak energy will allow the government to pump water back to the upper reservoir and provide an estimated 175 hours for peak demand storage. This created the economics that will fund the project - with anticipated returns at about 9%.
Direct Cash Support: Capital costs are expected to be between $3.8 and 4.5 billion in 2017, and more than $5 billion after inflation adjustments through the end of construction. Another $2 billion is expected to be spent to upgrade transmission lines to the cities of Sydney and Melbourne, where the power will be sold at market rates.