In its 2023 Sustainability Report, Snowy Hydro has highlighted its commitment to environmental responsibility and community support, and announced the expansion of its deal with Squadron Energy’s Uungula Wind Farm.
The report highlights three prioritised sustainability opportunities for 2023–24:
- Understanding and mitigating risks associated with climate change
- Emissions reduction and facilitating the decarbonisation of the National Electricity Market (NEM)
- Strengthening relationships with Traditional Owners and communities where the company operates
Snowy Hydro said that it is a major contributor to the reshaping of the NEM to support the transition to a cleaner, low-carbon economy and that it aims to be a driver and enabler of least-cost NEM decarbonisation.
Snowy Hydro CEO, Dennis Barnes, said that reliability, security of supply, and supporting a sustainable transition would remain the central considerations behind how the company operates, develops and maintains its nationally critical infrastructure.
“As Australia undergoes significant changes in its energy markets, Snowy Hydro remains steadfast in its commitment to delivering clean, sustainable, and affordable energy, contributing to a brighter and more sustainable future for all,” Mr Barnes said.
“We are already reducing our low emissions intensity profile by investing in new generation technology and materially increased renewable capacity.
“Investments in the Snowy 2.0 and Hunter Power Projects, the Renewable Energy Procurement Program, and the development of green hydrogen capability directly support that purpose.”
Mr Barnes said energy purchased through Snowy’s wind and solar offtakes continued to grow. The offtakes will deliver approximately 5,200GWh annually and exceed Snowy Hydro’s expected long-term hydroelectric generation.
The new wind and solar generation Snowy Hydro is enabling will displace more than 33 million tonnes of CO₂ per annum. This equates to a 28 per cent reduction in NEM emissions from 2022 levels and approximately 13 per cent of Australia’s total emissions reduction target for 2030.
Mr Barnes also announced the signing of a further 100MW of renewable capacity from Squadron Energy’s Uungula Wind Farm over ten years.
“This adds to the 200MW over 15 years that Snowy signed with the project in 2022.
“We are proud to continue supporting important projects like Uungula Wind Farm, which will produce enough renewable electricity to power more than 220,000 homes, and will prevent more than 560,000t of carbon emissions.”
Snowy Hydro has developed and sold products within a new environmentally-focused product class for its commercial and industrial customers, which includes some of Australia’s largest shopping centres, universities, banks and property managers.
The 2023 Sustainability Report also outlines Snowy Hydro’s work to support local communities through employment, education and environmental responsibility.
In an effort to foster diversity and inclusion, Snowy Hydro is aiming to increase female representation in the workforce (currently at 42.5 per cent), particularly at senior levels.
The report also covers Snowy Hydro’s long history of supporting the local communities in which it operates. This includes partnerships and sponsorships with not-for-profit organisations, community grants programs, contributing to local infrastructure, and economic investment in communities.
