Western Australia is the latest state to sign a Renewable Energy Transformation Agreement, securing investment certainty for new clean energy infrastructure.
The agreement – designed to knock over the barriers that developers, communities, and governments face in delivering renewable energy projects – is part of the Federal Government’s plan to deliver an additional 32GW of renewable generation and storage in Australia by 2030.
Under the agreement, the Federal Government will underwrite developers to build a minimum 6.5TW/h of new wind and solar projects in Western Australia, as well as 1.1GW of new storage, aiming to keep the electricity grid stable and make sure Western Australia has enough cheap dispatchable power at peak periods.
This builds on the Western Australian Government’s commitment to retire its state-owned coal-fired power stations by 2030 and replace them with reliable renewable electricity generation and storage – while maintaining reliability through the Reserve Capacity Mechanism.
The Western Australian and the Federal governments have also committed to a range of practical actions as part of the agreement that are aimed at improving community engagement and driving better social and economic outcomes from the energy transformation.
This includes increasing First Nations participation and benefits, progressing skills and workforce development, and reinforcing renewable energy supply chains.
Federal Minister for Climate Change and Energy, Chris Bowen, said, “This is an important day for Western Australia and our partnership that’s delivering certainty and progress, and cheap, clean reliable energy to the market and to households.
“Through our Renewable Energy Transformation Agreement, we’re collaborating to lower the remaining obstacles to delivery of energy infrastructure, and ensuring progress continues seamlessly across jurisdictions.”
Western Australian Minister for Energy, Environment and Climate Action, Reece Whitby, said, “We want to continue providing Western Australian households and businesses with clean, reliable, and affordable power.
“The procurement of additional storage will be critical for firming wind and solar power during peak demand, complementing existing public and private investment in big batteries in Collie and Kwinana.”
Image credit: LIBIN THOMAS OLAPRATH/Shutterstock.com.