The audit would examine the effectiveness of Snowy Hydro Limited’s governance arrangements for implementation of Snowy 2.0, the expansion to the Snowy Hydro Scheme. In February 2019, the Australian Government approved the Snowy 2.0 project to expand pumped hydro-electric storage in the Snowy Mountains. The Australian Government is providing $1.38 billion as an equity investment in the project. The remainder of the project is to be financed by Snowy Hydro Limited, which is a fully Commonwealth owned government business enterprise.