The CEFC has committed $125 million on behalf of the Australian Government to help finance the development of grid infrastructure critical to the delivery of the Snowy 2.0 pumped hydro project. In its first major grid infrastructure investment, the CEFC will fund TransGrid Services to increase the amount of reliable and secure electricity to the National Energy Market (NEM).
The CEFC corporate debt facility with TransGrid Services is part of a complex project to connect Snowy 2.0 to the NEM. TransGrid Services will draw on the CEFC finance to design, construct, operate and maintain a new 330kV switching station and associated transmission lines as part of its agreement with Snowy Hydro Limited to provide connection services for 30 years.
