The Clean Energy Council says that today’s announcement by the NSW Government of its Transmission Acceleration Facility is another significant acknowledgement of the importance of transmission in Australia’s clean energy future.
The $1.2 billion revolving facility will unlock at least $14 billion in private transmission projects in NSW, which will help to deliver the more than 50 large-scale renewable energy projects with a combined capacity of 16 GW currently under development. The first of these projects will be the Waratah Super Battery, which is particularly noteworthy as the Southern Hemisphere’s largest standby network battery.
“Over the past several years, the NSW Government has taken a leading role in Australia’s clean energy transition through its Electricity Infrastructure Roadmap and renewable energy zones,” says the Clean Energy Council’s Director of External Affairs, Arron Wood.
“The Clean Energy Council has worked closely and collaboratively with the NSW Government and the relevant agencies to help expedite this important reform.”
“Today’s announcement of investment to accelerate transmission is another example of the fantastic work being done in NSW to advance Australia’s clean energy future,” says Wood.
“As coal power stations come offline, it is investments like the Transmission Acceleration Facility that will help us plug into the renewable energy projects that will lower power prices, create jobs, keep the lights on and reduce our emissions. At a time when energy prices are at near-record highs, they will also help to alleviate the factors that have caused the current energy crisis and to avoid them reoccurring in the future,” says Wood.
Industry has consistently identified transmission investment as one of the key barriers to accelerating the deployment of renewable energy in Australia. Alongside an incoming Federal Government that is also committed to accelerating the modernisation of our electricity grid, today’s announcement from the NSW Government is very welcome news.
“Getting transmission right is crucial in providing developers with the certainty they need to begin making the considerable investments in renewable energy and storage required to decarbonise our electricity system. Government backing of transmission will give renewable energy developers the confidence they need to get on with the job of building Australia’s clean energy future,” says Wood.