Energy

Facilitating Australia’s transition to a lower carbon electricity system

A crucial project in ensuring Australia’s businesses and households have access to affordable, reliable, and clean energy.

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Sector Energy
Sub-sector Renewables
Location Australia

Opportunity

The National Electricity Market is transitioning to a lower-emissions future, which requires substantial investment in energy storage to ensure affordable, reliable, and stable energy is always available to Australian households and businesses. Snowy 2.0 is a crucial step in achieving this.

Approach

Macquarie Capital acted as sole financial adviser to Snowy Hydro on the $A5.1 billion1 Snowy 2.0 expansion of the historic Snowy Mountains Scheme. Macquarie Capital worked with Snowy Hydro’s management team to raise $A3.2 billion of bilateral corporate facilities and ensure a robust, market-leading debt package was achieved.

Outcome

Macquarie worked with Snowy Hydro management to ensure a robust, market-leading debt package was achieved, assisting with the decarbonisation of Australia’s electricity network at least cost.

$A3.2bn

Bi-lateral corporate facilities

350,000MWh

Deep energy storage to provide network reliability

5,000

Direct and indirect jobs over the life of the project

2,000MW

Additional flexible renewable energy capacity

1. Including fixed escalation

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