Nation’s biggest renewable energy auction starts today
Australia’s biggest renewable energy and storage policy, the NSW Electricity Infrastructure Roadmap officially launched today, paving the way for a cheaper, cleaner and more reliable energy future for NSW.
Minister for Energy Matt Kean said the first tender for renewable energy and long duration storage contracts opens today, the first in a series of bi-annual tenders over 10 years to replace retiring coal fired power stations with modern electricity infrastructure.
“NSW is targeting the construction of 12 gigawatts of renewable energy by 2030, enough to power the equivalent of 5.8 million homes, as well as 2 gigawatts of long duration storage like pumped hydro, making this the biggest renewable energy policy in Australia’s history,” Mr Kean said.
“The opening of the first tender marks a major milestone in the delivery of our renewable energy and storage plans, it’s expected to create a jobs and investment boom across NSW.”
Mr Kean said that the Electricity Infrastructure Roadmap is the State’s landmark energy policy designed to replace the generation capacity from four out of five of NSW’s coal-fired power stations, which are scheduled to retire in the next 11 years.
“NSW is building five massive Renewable Energy Zones across the State, which will produce cheap, clean electricity for generations to come and create major investment opportunities for industry and small businesses.
“Putin’s illegal invasion of Ukraine has put enormous pressure on power prices and shows why we need to fast track our plans to replace ageing power stations and reduce our reliance on generation that relies on volatile international commodity prices.”
The Roadmap is forecast to lead to savings of around $130 a year on average on the typical household electricity bill and $430 a year on the average small business electricity bill between 2023 and 2040, compared to if the Roadmap is not implemented.
Registration is open until 28 October 2022, which is when project bids close.