Episode
Snowy 2.0: Billion Dollar Energy Bet
- Published
- Jun 2, 2026
- Duration seconds
- 118
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Summary
Australia’s Snowy 2.0 mega-project, billed as the nation’s largest energy initiative, is finally breaking ground—but at a staggering cost. Originally budgeted at $2 billion in 2017, the project now faces an estimated $12 billion price tag, ballooning by $3 million per day. Tunneling machines have cleared a key rock barrier, paving the way for construction of a 27-kilometer underground tunnel designed to store renewable energy like a giant battery. When complete, it’ll power three million homes for a week. But delays from bushfires, COVID-19, and a stuck tunnel boring machine costing $2 billion alone have plagued progress. Safety concerns, toxic gas leaks, tunnel collapses, and executive bonuses amid missed targets have fueled public outrage. While some hail it as world-class innovation, others question its viability against rapidly advancing battery tech. With a new audit looming, the government remains committed—despite mounting doubts about whether it’s truly worth the money. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/fb2e7f622a9d0c20