(August 27, 2012) Surprisingly, CNN put China’s behemoth Three Gorges Dam ‒ at a cost of $28 billion ‒ in last place for the ‘honour’ of world’s most expensive energy project. In fact, had CNN used the most recent cost figures for Three Gorges, the world’s largest dam would have come in second place (at $60 billion) between the $116-billion Kashagan oil field in Central Asia and the $57-billion Gorgon gas project in Australia.
By CNNMoney, August 27, 2012
Our growing thirst for energy means today’s projects dwarf most past endeavors. The Hoover Dam cost $49 million in 1936. Adjusted for inflation, that’s only $825 million today.
#10 Three Gorges Dam — 10 most expensive energy projects in the world
Estimates vary widely on its cost, but it’s thought the Three Gorges Dam is the most expensive hydroelectric project ever built.
The idea to dam the Yangtze river originated more than 70 years ago, but it wasn’t until 1992 that the Chinese government approved the project. The dam generated controversy, partly because over 1 million people had to be relocated.
Three Gorges has been coming online in stages, and only reached full power this summer. It can generate 84.7 billion kilowatts a year, enough to supply China with 10% of its electricity.
Some say many of the projects on this list will carry a heavier environmental toll as more easily accessible energy is harder to find.