The New South Wales (NSW) government has announced plans to invest $1.8 billion (US$1,148 billion) in clean energy to achieve 12 gigawatts of new renewable energy generation and two gigawatts of long-duration storage by 2030. The government will allocate $1 billion from Restart NSW to establish the Energy Security Corporation (ESC), which will invest in storage projects, address market gaps, and improve electricity network reliability. The ESC will also invest in community batteries and virtual power plants to allow households and communities to use rooftop solar-generated electricity and reduce reliance on the grid. Additionally, the Transmission Acceleration Facility will receive $800 million to accelerate the linking of NSW’s Renewable Energy Zones (REZ) to the grid, starting with the Central-West Orana Renewable Energy Zone.
Minister for Energy Penny Sharpe emphasized the government’s goal of empowering households and communities in their energy choices. Premier Chris Minns acknowledged the need to realign the renewable energy roadmap to produce cleaner and more affordable energy for NSW residents. The Climate Council praised these investments, noting that they are crucial for NSW as Eraring, the largest coal-fired power station in Australia, is scheduled to close in 2025. The Climate Council’s Head of Advocacy, Jennifer Rayner, expressed support for electrifying households and ensuring access to cheap and abundant renewable energy.
The NSW government will engage with Origin, the operator of Eraring, about a potential extension of the coal plant due to reliability challenges in the coming years. The Electricity Supply and Reliability Check Up recommended considering alternative solutions for renewable generation, transmission, and storage while exploring options for Eraring. The check-up report highlighted that Eraring provides a significant portion of NSW’s electricity and replacing it within a limited timeline would pose challenges in terms of reliability and affordability.