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.
New South Wales Independent Planning Commission in Australia has approved with conditions new AUD768 million (US$509 million) 720 MW New England Solar Farm. The planning approval was saught by UPC Renewables Australia Pty Ltd.
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Maoneng, the Australian renewable energy developer, and CHINT New Energy, the solar panel manufacturer and EPC contractor have formed a joint venture to bring at least 2 GW of solar power to Australia by 2025.
Read moreLast week the Queensland Government in Australia has granted development approval for 1.2 GW Forest Wind project, one of the largest grid-connected wind farms in the southern hemisphere.
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UPC Renewables Australia and AC Energy (a subsidiary of the Ayala Corporation) have announced plans to build an 800 MW Valley of the Winds onshore wind farm located across cattle and sheep grazing land within the Warrumbungle Shire, between the Central West towns of Coolah and Leadville.
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Nebras Power Investment Management B.V. (NPIM), a wholly-owned affiliate of Nebras Power Q.P.S.C. has completed a transaction with Goldwind Stockyard Hill Wind Farm Limited, a wholly-owned Hong Kong affiliate of Xinjiang Goldwind Science & Technology Co., Ltd, by acquiring a 49% equity stake in Stockyard Hill Wind Farm in Australia.
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