The New South Wales government will invest more than $ 1 billion over the next 10 years in renewable energy.
The state government is seeking the transition from deteriorating coal infrastructure and instead reviewing the green energy grid.
In the next NSW budget, the government will invest $ 1.2 billion to accelerate critical energy infrastructure.
Sheep, Cattle and Wind Farm by Farmers for Climate Action Vice President and Farmer Charlie Prell in Crookwell. (Dominic Lorrimer)
The plan has two phases, with the first creating five statewide renewable energy zones and inviting private companies to build solar, wind and hydraulic plants to replace the retiring coal stations.
The second phase was today’s announcement to link the new areas to the network with a major improvement of poles and cables.
The shortage of transmission lines means that only one in 20 new energy projects can be connected to the grid, so the energy generated is not used.
The government hopes to eventually increase supply and help reduce prices.
NSW Treasurer Matt Kean said the investment would provide residents with cheaper energy. (Janie Barrett)
“Renewable energy zones are modern power plants, providing cheap, clean energy to homes and businesses in NSW,” said Treasurer Matt Kean.
“This is the state’s largest investment in renewable energy infrastructure and is expected to help create 2,700 direct jobs in construction across the state.
“Energy prices have risen due to the invasion of Ukraine by Russia and unplanned disruptions to coal-fired power plants.
“Speeding up the construction of renewable energy is the best way to reduce our exposure to these risks and take advantage of cleaner and cheaper energy sources.”
Bayswater Power Plant, a coal-fired power plant near Muswellbrook in the Hunter Valley. (AP)
It comes at the right time, as an aging coal-fired power plant in Upper Hunter, which feeds two million homes, has been severely disrupted today.
AGL’s Bayswater coal plant was operating at just a quarter of its capacity with three-unit breakdowns, only adding fuel to the country’s energy shortage fire.
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