Australia commits to 1 GW energy projects in NSW

The cooperation expands the Commonwealth plan of the Capacity Investment Scheme.

Australia has pledged to deliver 1 gigawatt (GW) of cleaner, cheaper projects in New South Wales (NSW).

The commitment serves as an expansion of the Capacity Investment Scheme (CIS), a Commonwealth plan wherein investments are directed towards residents.

In addition, it led to the announcement of successful bids for six major energy projects with a total of 1,075 megawatts (MW) capacity, surpassing the 930 MW target. The projects equate to 8% of the overall 2022-23 NSW summer peak demand, representing $1.18b (A$1.8b) in overall energy infrastructure, and are projected to create 400 jobs.

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With coal-fired power stations becoming obsolete, the addition of NSW energy projects will ensure a continuous flow of dispatchable power over the region and the transition to renewables.

“4GW of dispatchable power left the grid over the past decade with only 1GW to replace it – announcements like today’s are the result of Governments getting on with the job of delivering a cleaner cheaper grid for NSW,” Chris Bowen, Minister for Climate Change and Energy, stated.

All six successful projects will start their commercial operations by December 2025.

$1 = A$1.52