New South Wales receives 40GW of applications for brand-new renewable energy zone, representing a US$ 72bn investment

• The Australian state of New South Wales (NSW) has received applications for nearly 40GW of renewable generation and also storage space projects for its scheduled Hunter-Central Coast Renewable Energy Zone (REZ) amid huge passion in clean energy sources in the state.

Industrial rate of interest relating to AU$ 100 billion (US$ 71.7 billion) has actually been registered in 24 solar energy projects, 35 large battery energy storage systems (BESS), eight pumped hydro projects as well as 20 wind ranches, according to a declaration by the NSW federal government.

" With each other, these projects have the potential to supply greater than 100,000 GWh of renewable energy a year-- comparable to the annual outcome of as much as 10 coal-fired power plant," the NSW government stated.

This most current statement comes warm on the heels of a tender for NSW's South-West REZ, which obtained proposals for more than 34GW of solar, wind and energy storage-- more than 10 times the expected capacity of the site.

REZs in Australia, and in particular in NSW, have shown extremely preferred with solar programmers seeking to take advantage of the streamlined grid connection procedure and other supposed advantages.

A various NSW tender in August 2021 also brought in 34GW of propositions, being more than four times oversubscribed, and tenders throughout the Central West Orana, New England as well as Southwest regions have actually brought in a consolidated 95GW of interest.

" Renewable Energy Zones are important to making certain the future reliability and price of electricity in NSW as typical coal-fired power stations fold over the coming years," stated Australian Treasurer as well as Energy Minister Matt Kean.

" The REZ will not only draw in financial investment in clean energy, it will certainly also underpin the development of brand-new low carbon industries such as environment-friendly hydrogen, ammonia and metals manufacturing which the world is going to need as it decarbonises," claimed legislative secretary for the Central Coast, Adam Crouch.

Member for Upper Hunter, Dave Layzell, said the Hunter-Central Coast region was the "excellent place" for a REZ provided its "good renewable energy resources, access to transmission, transportation and also port framework [...] and very competent workforce."

The Energy Corporation of NSW (EnergyCo), a legal authority managed by the state government, is in the beginning of intending the Hunter-Central Coast REZ as well as will certainly be utilizing the details from this tender to educate the timing, capacity and also limits of the Hunter-Central Coast REZ.

It is anticipated that the Hunter-Central Coast REZ will certainly be formally proclaimed under the NSW Federal government's Electricity Roadmap regulations by mid-2022.