Australian renewable giant Snowy Hydro mulls raising AUD 2 billion

The largest hydropower producer in Australia is considering raising AUD 2 billion for a project expansion which aims to add a further 2,000 MW by late 2040 to a project in New South Wales.

Australian PM Malcolm Turnbull

Snowy Hydro Ltd., Australia's largest hydropower producer, is considering raising as much as AUD 2 billion (USD 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.

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