Salini Impregilo has won a contract valued at AU$5.1 billion (€3.228 billion) for the civil works and electromechanical component of the Snowy 2.0 project, the major new expansion of the Snowy Mountains hydroelectric Scheme in Australia.
Salini Impregilo signed the contract in its capacity as leader of the Future Generation joint-venture with a combined 65% stake - equal to AU$3.315 billion (€2.098 billion) - along with its U.S. subsidiary, Lane (10%). Australia’s Clough is the other member of the JV with a 35% stake.
“With this massive project, our Group is expanding its activities in Australia by entering the hydro sector to help the country produce more clean energy,” said Pietro Salini, Chief Executive Officer of Salini Impregilo. “We are bringing know-how that we’ve acquired from hundreds of projects built throughout the world. This contract consolidates our presence in the country where Salini Impregilo has been working in recent years, especially in the transport sector to expand sustainable mobility in cities like Sydney and Perth. This contract confirms our strategy to grow in the country and the investments that we have been making in recent years. Those made at the university level for the development of young talent has also gone in the right direction.”
Commissioned by Snowy Hydro Ltd, Snowy 2.0 will increase the generating capacity of the 4100MW Snowy Moutains hydroelectric scheme by a further 2000MW. It will also triple its pumping capabilities.
Under the terms of the contract, Salini Impregilo will link the existing Tantangara and Talbingo dams by excavating a series of tunnels and building a hydroelectric power station with pumping facilities located nearly one kilometre underground.