A $32 billion investment in renewable energy will be unlocked under the NSW Government’s new plan to cut down on the state’s emissions, reduce reliance on coal and create new jobs.
The government said the plan would “cut red tape” to speed up approvals for transmission infrastructure in renewable energy zones in the Central west and New England regions by 2020.
Minister for Regional New South Wales, Industry and Trade John Barilaro said the plan, which was signed off by cabinet last month, would deliver Australia’s first renewable energy zones in the Central West and New England regions by 2030.
“The stimulus the renewable energy zones will provide to regional communities will unlock over 9000 new jobs and will be a huge boost to farmers and land owners, with $1.5 billion in lease payments expected to go to landholders hosting new infrastructure by 2042,” he said.
“The road map will make sure that renewables are developed where regional communities want them and where they are compatible with farming.”
Energy Minister Matt Kean, who has previously clashed with Mr Barilaro over environmental policies, said he was an intergral part of the development of the road map.
“Few people deserve more credit than the Deputy Premier for landing the biggest reforms to the energy sector,” Mr Kean said.
“NSW has some of the best natural resources in the world and this roadmap is about acting now to leverage our competitive advantage and to position NSW as an energy superpower.”
The plan has also been supported by The Climate Council, who said it would help address the climate crisis and assist communities recovering from the economic blow of COVID-19.
“We are witnessing an unstoppable wave of action when it comes to clean job creation and climate pledges,” said chief executive Amanda McKenzie. “Australia now has three Liberal state governments – NSW, Tasmania and South Australia – with some of the strongest renewable energy targets in the country.”
Treasurer Dominic Perrottet said the plan would grow the Australian economy, create more jobs and deliver $32 billion of private sector investment in electricity infrastructure by 2030.
“Coming out of this crisis, not only are we stimulating the economy to create jobs now, we are looking towards the reforms NSW needs to secure our future,” he said.
“This is a big productivity reform, with the road map projected to deliver NSW some of the cheapest energy prices in the OECD and shore up our energy security.”
NSW’s plan comes amidst the Morrison government’s resistance to cutting emissions to net-zero by 2050, which has gained pace with the election of US president-elect Joe Biden.
The Federal Government has a 2030 emissions target of a 26 per cent-28 per cent cut below 2005 levels. This target comes after rejecting a recommendation by the Climate Change Authority to reduce between 45 per cent and 60 per cent over that same timeframe.
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