Australia fast tracks critical transmission projects with $5.3bn package

Commonwealth and New South Wales (NSW) have announced an extensive investment package of AU$7.8 billion ($5.3 billion) into Australia’s critical transmission infrastructure projects.

The announcement was made by the Albanese and Perrottet Governments to connect New South Wales’ Renewable Energy Zones (REZs).

The deal sees the Albanese Government’s Rewiring the Nation plan enable AU$4.7 billion ($3.2 billion) from the Commonwealth to join with AU$3.1 billion ($2.1 billion) from the NSW Transmission Acceleration Facility, to help NSW realise its Electricity Infrastructure Roadmap and increase reliability across the east coast grid.

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The joint deal will back eight critical transmission and REZ projects, including:

1. Sydney Ring – Hunter Transmission Project (HTP);
2. Central-West Orana (CWO) Renewable Energy Zones (REZ);
3. New England (NE) REZ;
4. HumeLink;
5. VNI West;
6. Hunter-Central Coast (HCC) REZ, including potential offshore wind opportunities;
7. Sydney Ring – Southern Sydney Ring; and
8. South-West REZ.

NSW premier Dominic Perrottet, said on the landmark deal: “This joint AU$7.8 billion funding deal will support the projected AU$32 billion ($22 billion) in private investment for regional energy infrastructure by 2030. This is our opportunity to invest in our future industries that will drive jobs and wealth creation in our State.”

Climate change and energy minister Chris Bowen added, commenting on the importance of the deal to support such critical projects and plug Snowy 2.0 - the largest committed renewable energy project in Australia - into the grid.

This latest Rewiring the Nation backing followed the landmark deal between the Commonwealth, Tasmanian and Victorian governments for two undersea cables to link Tasmania’s Battery of the Nation projects to the mainland; the Victorian leg of VNI West (Kerang Link); and a range of REZ projects, including offshore wind.