The Albanese Government has approved a new transmission project which will add at least 4.5 gigawatts of new network capacity, equivalent to powering 1.8 million homes.
The Central-West Orana Renewable Energy Zone (REZ) transmission project will deliver new transmission lines to connect reliable renewable energy generation and storage projects within the Central-West Orana Renewable Energy Zone in regional NSW to the national electricity network.
The project has received $490 million in finance from the Albanese Government's Rewiring the Nation Fund, and has the potential to directly deliver $240 million in cheaper power bills for Australian families.
We know projects like this are vital to boosting renewables capacity, supporting reliability, and putting downward pressure on prices, but they are also great for local jobs and economies. The project is expected to drive up to $20 billion in private investment in solar, wind and energy storage projects, supporting around 5,000 jobs during peak construction.
This is another huge step in the Government's plan to make Australia a renewable energy superpower.
Under the Liberals and Nationals, 24 coal fired power plants with a total capacity of 26.7 GW announced their closure dates, but the previous government failed to deliver any policy to ensure replacement energy capacity.
At the last election, Australians voted for progress on renewables. That's exactly what Labor is delivering.
The approval is subject to more than 40 strict conditions to protect nature, including limiting clearance to avoid and mitigate impacts on threatened species.
Quotes attributable to Minister for the Environment and Water, the Hon Tanya Plibersek MP:
"Labor is transforming Australia into a renewable energy superpower while Peter Dutton's so called nuclear plan is threatening investment in renewables.
"I've ticked off more than 55 renewable energy projects in two years - enough to power more than three million Australian homes.
"We're getting on with the job of modernising our electricity grid to support them, and this project is another big step.
"The 55 renewable energy projects give us more electricity in the two years we have been in office than Peter Dutton's uncosted and unexplained seven large reactors might produce some 20 years from now.
"Australians have a choice between a renewable energy transition that's already underway and driving down prices, or paying for an expensive nuclear fantasy that may never happen."
