8 April 2021
Major new transmission network projects are now in doubt after the Australian Energy Market Commission formally rejected a request from network companies to allow for increased early revenues from key network upgrades.
The decision could potentially kill off plans to build major new network links identified in the Australian Energy Market Operator’s Integrated System Plan, considered crucial for further investment in wind and solar projects and the transition to a renewables-dominated grid.
Network companies had been hoping to front-end revenues to aid in securing finance for the network projects. Transgrid and ElectraNet said was necessary to ensure finance could be secured.
The state government released the Electricity Infrastructure Roadmap in late 2020, which outlines NSW’s renewable energy plan and renewable energy targets. Its enabling legislation is the Electricity Infrastructure Investment Act 2020 (NSW), and it also passed both houses of parliament in late 2020. So what do these mean for the state and the country?
More renewable energy investment from the private sector
The primary goal of this renewable energy plan is to put the groundwork, structures and framework in place to attract more private investment in renewable energy solutions.
It lays out a goal of achieving $32 billion in private investment for regional energy infrastructure by 2030, which will result in around 9000 jobs in regional NSW as well. This will be achieved through 12GW of renewable generation through new projects, and 3GW storage by 2030. The roadmap states that would achieve $130 annual savings on the average residential electricity bill and $430 off the average sma
17 December 2020
The New South Wales government will fast-track planning approvals for the first batch of transmission network upgrades that are set to unlock the state’s first Renewable Energy Zone and billions in new clean energy investment.
NSW planning minister Rob Stokes announced on Thursday that the NSW government had declared the Central West Orana Renewable Energy Zone (REZ) Transmission project a ‘Critical State Significant Infrastructure’ project, seeing it granted priority status throughout the planning approval process.
The project will see new transmission lines and substations constructed across the Central West Orana region, designed to boost the ability for new wind, solar and storage projects built in the region to connect to the grid and deliver power to the rest of the grid.