Australia to invest $5.3 B to connect Snowy 2.0 and NSW
Australia invests $5.3 B to connect New South Wales' renewable energy zones and Snowy 2.0 hydro project to the electrical grid.
Image source: Bizfeed
Australia, Canberra: Australia invests $5.3 B to connect New South Wales’ renewable energy zones and Snowy 2.0 hydro project to the electrical grid.
Prime Minister Anthony Albanese and New South Wales Premier Dominic Perrottet are to jointly announce a historic deal between the Federal and NSW’s governments that delivers downward pressure on energy prices. This follows the successful passage of Canberra’s plan through the Federal Parliament last week – an agreement that allows state legislation to cap gas rates.
The prime minister declared that the plan would produce thousands of jobs in renewable energy while providing dependable and cost-effective electricity on the east coast.
“In addition to taking immediate action, the Australian economy can take advantage of renewable energy sources in the long run – creating jobs in regions that have fuelled Australia and shielding us from external fossil fuel shocks. This will provide our nation with more affordable and dependable energy solutions over time,” said Albanese.
Source: Bizfeed
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