Hydro 2.0 Act - Amends the Reclamation Project Act of 1939 to authorize the Secretary of the Interior, acting through the Commissioner of the Bureau of Reclamation, to plan, design, construct, operate, and maintain additions, improvements, efficiencies, and replacements of power generation facilities at existing Reclamation project facilities, including exclusive development of non-federal power at Bureau of Reclamation facilities.
Predicates such authority upon: (1) use of the lease of power privilege by the Commissioner to approve such development of non-federal power; and (2) construction, operation, and maintenance of the power generation facilities consistent with water supply and other purposes specifically authorized for the project.
Requires revenues from the lease of power privileges to be deposited into the Reclamation Fund and credited to the project from which such power is derived. Prescribes allocation guidelines governing the construction cost component of such revenues from the lease of power privilege.