NSW's inaugural renewable energy tender awards 1.4 GW

• New South Wales has actually picked 1.4 GW of wind, solar and also battery storage projects in its maiden auction for renewable energy capacity targeted at aiding the Aussie state move far from coal-fired generation.

Projects granted via the tender will certainly help with the creation of large renewable resource zones (REZ) as well as draw in financial investments worth AUD 2.5 billion (USD 1.66 bn/EUR 1.51 bn), the state government revealed on Monday following their evaluation by the Australian Energy Market Operator (AEMO). The results were released a couple of days after the closure of the Liddell terminal, Australia's earliest coal-fired power plant.

ACEN Corp (PSE: ACEN), the detailed energy platform of Philippine corporation Ayala Group, is the biggest winner in the purchase, grabbing long-term energy service agreements (LTESAs) for 1.1 GW of the general capacity. The listing also includes Goldwind Australia and RWE Renewables Australia.

The capacity is expected to become functional at the time of the expected closure of the Eraring thermal power plant as early as 2025 to 2026.

"These projects will certainly load the gap that will be entrusted to the planned closures of coal-fired power stations in the coming decade," stated Priest for Energy Penny Sharpe.

The tender was held under the state's Electricity Infrastructure Roadmap, which is meant to sustain the deployment of 12 GW of renewable and 2 GW of long-duration storage capacity by the end of the decade. The twice-yearly auctions will be held every six months for one decade.

The inaugural auction, released in October 2022, drew bids for more than 5.5 GW of wind and solar generation and over 2.5 GW of long-duration energy storage capacity. The shortlisted propositions completed 4.3 GW.