The federal government has taken a further step towards main works starting on Snowy Hydro 2.0.
Energy Minister Angus Taylor will visit the southern NSW site on Friday to announce the government has provided shareholder approval to Snowy Hydro Ltd for notice to proceed on the mammoth renewable energy project.
The notice is considered an important contractual milestone for Snowy Hydro Ltd to start main works.
The project inside the Kosciuszko National Park involves the construction of a 240-metre long pumped-hydro power station about 800 metres underground, to generate 2000 megawatts of electricity.
The government says it will create 2000 jobs during the construction phase and generate billions of dollars of investment in regional NSW.
About 500 people are already working on it, which will grow to around 850 by December.
Snowy Hydro will be required to provide $100 million in environmental offsets which will be used for local projects in the national park.
Australian Associated Press