Australia announces the first stage of 17.7GW renewable zones
New South Wales in Australia has announced the first stage of the three renewable zones which would have a total generation capacity of 17.7 GW of electricity by 2050. The zones will be located in the Central-West, New England and South West and the estimated private investment into the projects could be up to AUD 23 billion (USD 13.9 billion).
“Net Zero Plan Stage 1: 2020-2030” will attract AUD 11.6 billion (USD 7 billion) of private investment. Solar energy will play a big role in the first stage and the subsequent stages. The state government plans to increase its solar target from 55,000 MWh to 126,000 MWh by 2024.
The plan aims to enhance the prosperity and quality of life of the people of NSW, while helping the state to deliver a 35% cut in emissions by 2030 compared to 2005 levels. The plan will support a range of initiatives targeting electricity and energy efficiency, electric vehicles, hydrogen, primary industries, coal innovation, organic waste and carbon financing.
Under the plan, businesses will be supported to modernize their plant and increase productivity, while farmers will have access to new markets and technologies. The plan will also help to drive down the cost of living and provide consumers with more information to help them make more environmentally and financially sustainable choices.
You can see the full plan in our library.
Country news
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March 10, 2020
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