The SA-NSW Interconnector and the Marshall Government's Hydrogen Action Plan can make an historic transformation of SA into an energy exporter, according to recently released modelling by the Australian Energy Market Operator.
The Government's policies on power will benefit all South Australians by driving down the cost of electricity and stabilising the grid.
The Marshall Government has already reduced the average annual electricity market offer by $269, and is fixing the former Labor Government legacy of blackouts, whilst taking stronger action on emissions and climate change.
"The market operator's projections show that the faster pace of change being driven by the Marshall Government's policies will also deliver thousands of jobs in new renewable energy projects," said the Minister for Energy and Mining, Dan van Holst Pellekaan.
"AEMO's report shows brisk progress towards the Marshall Government's intention of net-100% renewable energy by 2030, with the SA-NSW Interconnector allowing the share of generation to rise to over 84% within a few years.
"It also shows the combined impacts of the SA-NSW Interconnector, and the acceleration of electric vehicles and hydrogen by the Electric Vehicle and Hydrogen Action Plans.
"This positions South Australia as a major exporter of clean energy, with a massive increase in renewable energy projects and associated employment."
The Hydrogen Action Plan, released in 2019, is driving interest and investment in hydrogen in South Australia. Since the election, the Marshall Government has:
- Become the first state in the Green Ammonia Consortia with Japanese partners;
- Launched the hydrogen export modelling tool and prospectus;
- Helped attract Mitsubishi Heavy Industries to invest in H2U's project at Cultana;
- Signed an MOU with Europe's largest port in Rotterdam to investigate exports;
- Secured the Australian Hydrogen Centre to work on transitioning the domestic gas network to clean hydrogen, and
- Secured $37 million to support Port Bonython's long-term future as a hydrogen hub.
"This is the vision behind our net-100% renewables target – to turn ourselves from an importer to an exporter. The SA-NSW Interconnector is central to our plans," said the Minister.
"That's why we're accelerating the SA-NSW Interconnector with early works funding. We've got more than $3 billion in projects under way or committed in South Australia, and the SA-NSW Interconnector can take that to over $5 billion."
