The $7.8 Billion Deal To Connect Snowy 2.0 And NSW Renewable Energy Zones
Through their commitment to the ‘Rewiring the Nation’ initiative, both state and federal governments are projected to create thousands of jobs for communities nationwide.
- (1888PressRelease) January 08, 2023 - In a groundbreaking $7.8bn agreement between the Federal and New South Wales governments, New South Wales’s renewable energy zones and Snowy 2.0 hydro project will be connected to the electrical grid.
On Wednesday, Prime Minister Anthony Albanese and New South Wales Premier Dominic Perrottet will jointly announce a historic deal that delivers downward pressure on energy prices. This follows the successful passage of Canberra’s plan through the Federal Parliament last week – an agreement that allows state legislation to cap gas rates. This is undoubtedly good news for Australians, who look forward to more affordable living costs shortly!
To continue its mission of “Rewiring the Nation” to connect abundant renewable power generation to the national electricity grid, the federal government has pledged $4.7bn towards this cause.
The prime minister declared that the plan would produce thousands of jobs in renewable energy while providing dependable and cost-effective electricity on the east coast.
“In light of Russia’s unlawful attack on Ukraine, the commonwealth has collaborated closely with each state and territory to protect Australian families and businesses from the most severe consequences of this energy crisis”, Albanese said.
“In addition to taking immediate action, the Australian economy can take advantage of renewable energy sources in the long run – creating jobs in regions that have fueled Australia and shielding us from external fossil fuel shocks. This will provide our nation with more affordable and dependable energy solutions over time.”
He proclaimed that support for essential infrastructure such as the Sydney Ring transmission link, VNI West interconnector and HumeLink line – all of which are part of this initiative – would render Australia an unprecedented renewable energy superpower.
These renewable energy zones include the central-west Orana region, Hunter-Central Coast zone and southwest areas.
New South Wales Premier Dominic Perrottet declared that the proposed plan would back up anticipated private investments in the regional energy infrastructure of a whopping $32 million over eight years.
“Let’s seize this chance to invest in the industries of tomorrow, which will stimulate job creation and generate wealth for our state,” the premier said.
Government modelling forecasts that the plan could create almost 4,000 employment opportunities in regional NSW. This agreement follows similar partnerships forged with Tasmania and Victoria.
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