The Australian state of New South Wales (NSW) has plans to invest A$1.2 billion ($857 million) in new transmission lines and infrastructure over the next 10 years. It is considered one of the state’s largest investments in infrastructure for renewable energy.
The funding will be included in the upcoming state budget, and NSW treasurer Matt Kean says the new Transmission Acceleration Facility will fund the transmission infrastructure, which the was unveiled in February. It will drive at least A$14 billion ($10 billion) in private transmission infrastructure investment.
“Energy prices are up because of Russia’s invasion of Ukraine and unplanned outages at coal-fired power stations. Fast-tracking the construction of renewable energy is the best way to reduce our exposure to these risks and take advantage of cleaner, cheaper power
sources,” said Kean.
There are more than 50 large-scale renewable energy projects totaling around 16,000 megawatts curren
