$2 B for 17 GW wind, solar and storage capacity
The NSW Coalition government has reaffirmed a commitment to an ambitious ramp-up of wind, solar and storage capacity in the state of up to 17,700 MW.
Australia
Australia, New South Wales: The NSW Coalition government has reaffirmed a commitment to an ambitious ramp-up of wind, solar and storage capacity in the state of up to 17,700 MW as being key to the state’s path to achieving zero net emissions by 2050.
Each renewable enery zone will potentially support several thousand megawatts of wind, solar and storage projects, along with coordinated investments in transmission network infrastructure that will link the regions rich with wind and solar resources with the rest of the National Electricity Market.
In its newly released Net Zero Plan,the NSW government has detailed how the state government will work to leverage $2 B in funds secured under a bilateral deal with the Morrison government to accelerate the deployment of the state’s first Renewable Energy Zone.
The NSW government identified a set of core priorities for the next ten years of energy system development, at the centre of which is the deployment of “proven emissions reduction technologies”, which will see the state support increases in wind and solar generation as it deals with the looming exit of its coal generation fleet.
As announced in January, the NSW government will seek to establish a 3,000 MW pilot Renewable Energy Zone in the state’s central-west region, around the township of Dubbo.
The NSW government outlines how the Net Zero Plan will also progress work to establish an additional two Renewable Energy Zones, based in the South-West and New England regions of the State, delivering up to a combined 17,700 MW of new clean energy generation and storage capacity.
Under the plan to 2030, the NSW government is looking to leverage as much as $11.6 B in private sector investment to help deliver its plan.
In the longer term, these zones could deliver more than double this amount, with much as to $23 B in private sector investment directed into the Renewable Energy Zones alone.
The NSW government will rely on this significant investment in new clean energy capacity to deliver the bulk of the emissions reductions needed to reach an interim reduction target of 35 % below 2005 levels by 2030.
Source: Renew Economy