The federal and NSW governments have agreed to a multibillion-dollar deal to supercharge the east coast electricity supply by connecting major renewable energy zones to the national grid.Credit:Dominic Lorrimer
The Commonwealth government will contribute $4.7 billion from its Rewiring the Nation fund to support NSW connecting eight renewable energy zones to the east coast energy grid,as well as Snowy 2.0.
The money will fund crucial infrastructure,such as transmission lines,to connect wind,solar and other renewable energy sources to the electricity grid and into people’s homes.
Meanwhile,the NSW government will tip in $3.1 billion from the NSW Transmission Acceleration Facility,with the new deal expected to create close to 4000 jobs throughout the regions.
The federal funding is understood to have been secured by NSW as part of the broader national cabinet agreement to introduce caps on coal to curb energy prices.
NSW Premier Dominic Perrottet and Prime Minister Anthony Albanese in Sydney last September.Credit:Dominic Lorrimer
Prime Minister Anthony Albanese said connecting the renewable energy zones,which include the Sydney Ring,HumeLink,and potential offshore wind opportunities,would help transform Australia into a “renewable energy superpower”.
“The Australian economy can seize the opportunity of more affordable and reliable renewable energy over the long term – creating jobs in the regions that have always powered Australia,and insulating ourselves from global fossil fuel shocks at the same time.”