Snowy Hydro 2.0 is viable but will cost billions more than predicted, study says

Malcolm Turnbull's spokesman praises move as a 'nation-building project' after report shows it to be financially feasible

A feasibility study into the proposed expansion of the Snowy Hydro scheme has given the project the green light, but says it will cost billions of dollars more than predicted.

The study, supported by Malcolm Turnbull, found the proposed expansion was both technically and financially feasible, and that Snowy Hydro would be able to finance the project itself.