ENFRWC -
Snowy Hydro Ltd. Australia’s largest hydropower producer,
is considering raising as much as A$2 billion ($1.6 billion) by the end of 2018
for a project expansion, which will boost its 4,100 megawatt capacity by as
much as 50 percent
The company, jointly owned by
the federal government and the Victorian and New South Wales state governments,
has begun talks with global infrastructure funds and banks over financing
options, Snowy Hydro Chief Executive Officer Paul Broad said in an interview.
The company aims to have funding in place by the second half of 2018 before
taking a final investment decision on the project’s expansion by year-end.
“Infrastructure funds
globally are hot at the moment, so we’re not short of suitors who’ve been
banging the door down to try and come and talk to us about it,” Broad said. “We
need to get funds locked away and the board comfortable in advance of bringing
the final proposals to them by the end of the year”
The proposed Snowy Hydro 2.0
expansion, which may cost as much as A$4.5 billion, aims to add a further 2,000
megawatts of generation capacity and 350,000 megawatt hours of energy storage
by late 2024 to the project located in New South Wales. Snowy Hydro will
select a financial adviser in the next few months to help guide its funding
plans, according to Broad. Lazard was hired last year by the Australian
government to advice on its plans to boost its ownership in the company
One of Australia’s biggest
infrastructure projects, Snowy Hydro took a quarter-century to build. On
completion in 1974, it consisted of seven power stations and 16 major dams
reaping energy from some of the nation’s strongest rivers. The expansion has
been championed by Prime Minister Malcolm Turnbull who said in December the
project would help Australia overcome surging electricity prices and supply
constraints
Snowy Hydro also operates gas
and diesel power plants that aren’t part of the expansion plan
تبحث
شركة سنووي هيدرو المحدودة، أكبر منتج للطاقة الكهرومائية في استراليا، زيادة قدرها
2 مليار دولار أسترالي (1.6 مليار دولار) بحلول نهاية عام 2018 من أجل توسيع مشروع،
سيزيد من قدرتها الإنتاجية البالغة 4100 ميغاوات بنسبة تصل إلى 50 في المئة
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