the australian territory and new state glamorgan politicians will not be selling their interest in snowy hydro corporation ( the owner and developer of the three mountains turbo - lighting program ) . snowy falls limited ' s major shareholder is the nsw government with a 58 cent shareholding . the victorian government owns 29 percent and the federal party has a 13 percent stake . nsw mla morris iemma announced in may 2005 that he wished to sell the state ' s share in snowy hydro that encouraged the federally and victorian governments to follow . the propose sale has attracted overwhelming protest by those which believed that the offer can affect the landscape and groundwater supplies along the snowy river , this was reinforced daily . 58 seven australians presented a petition to the government opposing the sale .
New South Wales government owns the majority of Snowy Hydro Limited shares.