$7.8 billion will be spent on renewable energy transmission infrastructure in NSW | Daily News Byte

The state government of New South Wales (NSW) has entered into a landmark A$7.8 billion ($5.2 billion) agreement with the federal government to improve the province’s renewable energy infrastructure. The agreement was announced by Prime Minister Anthony Albanese in the presence of New South Wales Premier Dominic Perrotte and aims to urgently strengthen the transmission infrastructure for a rapid transition to clean and green energy.

Specifically, the agreement will bring eight renewable energy projects onto the grid in the province, in addition to the launch of the Dreams 2.0 hydropower project in NSW – Australia’s most populous province. The aforementioned pumped hydro project will be dedicated to providing backup energy during periods of time when wind and sun cannot help meet the needs. The hydroelectric project should provide 350,000 gigawatt hours of energy storage. Dreams 2.0 is Australia’s largest dedicated renewable energy project.

The Federal Government will spend A$4.7 billion and NSW will contribute A$3.1 billion by the end of this decade to eliminate reliance on fossil fuels for energy.

“The Commonwealth has worked hand-in-hand with states and territories to protect Australian households and businesses from the worst impacts of the energy crisis caused by Russia’s illegal invasion of Ukraine,” Anthony Albanese said of the investment in NSW.

On the job creation in the process and the availability of reliable and affordable energy along the East Coast, the Prime Minister said: “But beyond that critical short-term action, the Australian economy can seize the opportunity of more affordable and reliable renewable energy over the long term – creating jobs in regions that have always driven Australia and at the same time insulating it from global fossil fuel shocks. Government modeling shows that around 4,000 jobs will be created in NSW.

Critical infrastructure development will include the Sydney Ring Transmission Link, the VNI West Interconnector and the HumeLink line. Energy zones of central-west Orana, Hunter-Central Coast and south-west RE zones in NSW.

The east coast of the continent-country mainly runs on coal energy. The federal government is to inject $20 billion in a bid to ‘reshape the nation’ by boosting electricity transmission infrastructure between states and regions in the east.

Last September, Australia’s parliament passed new legislation promising to reduce the country’s carbon emissions by 43% by 2030 and reach the zero target by the middle of this century.