NSW’s ambitious plan to become renewable superpower
The NSW government has announced that it will drive the transition to renewable energy by attracting $32 billion of private investment in infrastructure. The goal is to deliver thousands of jobs and among the cheapest and most reliable electricity in the world.
In the most ambitious energy plan in the country, the government will support the private sector to build critical energy infrastructure by 2030 as NSW faces the end of the coal-fired power generation.
The government says the plan will create 6300 construction jobs and 2800 ongoing jobs, mostly in regional NSW, and deliver 12 gigawatts of renewable energy and 2 gigawatts of storage, largely pumped hydro.
It will also see $1.5 billion in lease payments go to landowners for hosting new infrastructure on their properties and put NSW in the top 10 for the lowest industrial electricity prices in the OECD.
The government says its Electricity Infrastructure Roadmap will cut the average small business electricity bill by about $440 a year, with savings of about $130 a year for the average household bill.
There will be $50 million in the state’s November 17 budget for grants for pumped hydro projects and legislation will be introduced to NSW Parliament in the final two sitting weeks of the year.
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