The NSW Government announced on 2 March 2018 it would transfer its 58 per cent shareholding in Snowy Hydro Limited to the Commonwealth.
The Victorian Government has also agreed to transfer its 29 per cent shareholding to the Commonwealth, taking the Commonwealth’s shareholding from 13 per cent to 100 per cent.
The NSW Government will receive $4.154 billion in proceeds from the transaction.
In May 2017, the Federal Government announced its intention to purchase NSW’s and Victoria’s shares of Snowy Hydro Limited to expand the Snowy scheme, known as the Snowy 2.0 project.
The transaction is a continuation of the NSW Government’s asset recycling strategy and its exit from the electricity generation sector.
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