Sixteen projects worth a total of $34.4 billion have been selected for fast-tracking by the New South Wales government – 13 of which are proposing to deliver new renewable energy and storage capacity for the still heavily coal-dependent state.
The Minns Labor government on Wednesday endorsed the first tranche of projects through its newly established Investment Delivery Authority (IDA), marking a major milestone in supporting the delivery of high‑value private sector investment across the state.
The IDA’s four-person panel will have the power to override councils and accelerate planning approvals for proposed projects amid complaints that making major investments in NSW has become too complex and time-consuming.
By far the biggest winners from the inaugural expression of interest process by the IDA were renewable energy projects, ranging from wind farms to stand-alone big batteries, hybrid generation and storage projects, and green hydrogen precincts.
The government is hoping dozens of projects in the next couple of decades will generate enough electricity to power 5.5 million homes with Australia’s biggest coal-fired facility Eraring extended to 2029.
Coal still remains the biggest export at some $33 billion, but the state wants to spruik its green credentials with 43 projects in the past three years as it aims to reduce greenhouse emissions by 50 per cent by 2030.
“The Investment Delivery Authority is helping accelerate the NSW Electricity Roadmap to keep the lights on and make sure families and businesses have energy they can trust and afford,” environment minister Penny Sharpe said on Wednesday.
“These endorsed projects will mean more reliable and affordable power for NSW, and more jobs and investment right across the state, particularly in regional NSW.”
Among the renewable energy projects tapped for assistance from the IDA are several large-scale wind generation projects, including the Origin Energy-owned 1.5 gigawatt (GW) Yanco Delta wind farm proposed for north-west of Jerilderie in the NSW Riverina district, within the state’s South West REZ.
Also among the chosen is Spark Renewables’ Dinawan solar and wind projects, both of which have found themselves at the mercy of the Independent Planning Commission for closer assessment due to a high number of public submissions to their development applications.
Pottinger Energy Park also makes the list (see below) – the potentially huge wind and battery project being jointly developed by Someva Renewables and AGL Energy that has approval for up to 1.3 GW of wind capacity and a possible 500 MW, 2,000 MWh battery.
“The IDA was established by the NSW government to support the delivery of major projects and boost investment by cutting through red tape,” Someva Renewables said on LinkedIn on Wednesday.
“Selection is recognition of the importance of Pottinger Energy Park to NSW’s economy and energy transition.”
The Port of Newcastle Clean Energy Precinct was also selected for support, an early-stage plan for hydrogen and ammonia production, energy storage and new export infrastructure.
“The Clean Energy Precinct is a once in a generation opportunity for our region and for NSW’s energy future and I look forward to continuing to work with the NSW Government through the next phase of the Project,” Port of Newcastle CEO Craig Carmody said on Wednesday.
“As we near completion of the FEED and EIS studies, this endorsement continues the Project’s momentum as we move into the next critical phase of approvals and sends a powerful signal to global investors,” he said.
With some reporting from AAP
