Snowy Hydro: NSW and Victoria to sell their stakes to federal government

Deal worth $6bn allows Malcolm Turnbull to proceed with plan to expand hydro to boost east coast gridThe federal government has reached an agreement to buy the stakes held by New South Wales and Victoria in the Snowy Hydro project for $6bn.The agreement, clinched late on Thursday by Malcolm Turnbull, allows the federal government to proceed with its $4.5bn plan to expand Snowy Hydro to benefit the east coast electricity grid. Related: Snowy Hydro 2.0 is viable but will cost billions more than predicted, study says Continue reading...