The NSW government has allocated $800 million to speed up the grid integration of regional energy projects, enabling families and businesses to access cleaner and less expensive electricity more quickly.
In addition to a $1.8 billion boost for a switch to renewable energy, the Transmission Acceleration Facility investment will connect the state’s Renewable Energy Zones to the electrical grid more quickly.
The forthcoming budget will reflect the investments.
By 2030, the state is expected to generate 12 gigawatts of new renewable energy and 2 gigawatts of long-duration storage, according to the financial pledge.
Energy Minister Penny Sharpe stated, “This is a once-in-a-generation transition that requires massive investment and coordination from government and cooperation with the private sector.”
The money will be used to finance the preliminary phases of the Hunter Transmission Project, the Waratah Super Battery, and the Central-West Orana Renewable Energy Zone near Dubbo.
She stated, “We’re not simply investing in big, grid-scale initiatives.
“We want to offer households and communities more control over the decisions they make regarding the production and use of energy.
The Energy Security Corporation will fund initiatives like communal batteries in order to encourage more homes to use rooftop solar and achieve self-sufficiency.
At their peak, the projects are anticipated to create 5000 construction jobs and bring in up to $10 billion in private investment by 2030.
