The NSW government has outlined their plans to unlock a $32 billion investment to create a renewable energy boom in regional NSW. As part of the NSW Energy Infrastructure Roadmap, 12 gigawatts of renewable energy and 2 gigawatts of storage would be built in Renewable Energy Zones in the Central West, New England and South West.
This plan opens the door for NSW to become a renewable energy superpower and expand the share of renewable energy in the state from 16% to a projected 60% by 2030. This boom would lock in a smart economy, filled with jobs of the future, powered by low industrial electricity prices to drive further jobs in manufacturing and regional economies.
Jobs and economic activity to follow massive investment
For regional communities doing it tough through COVID-19, this plan will be a welcome lifeline. The investment will turbo-charge economic recovery and create more than 6,000 construction jobs, with a projected 2,800 ongoing direct jobs. Providing investment certainty will see $32 billion of private investment into the regions to create thousands of indirect jobs and help make communities more self-reliant and sustainable.
Farmers, landholders and communities to reap huge benefits
As Deputy Premier and NSW Nationals Leader, John Barilaro, pointed out, farmers and landholders who host critical infrastructure on their land will see a projected $1.5bn in lease payments, for those. This is drought proof income farming families can rely on. Regional businesses can count on this money flowing back into the regional economy as farmers restock, purchase machinery and equipment, fight weeds and repair their fences. Additionally, the plan expects $265 million in community enhancement funds to fund important community projects in dozens of towns in these regions.
Climate action and jobs for NSW
This plan provides meaningful climate action for NSW, in line with the state government’s 2050 net-zero emissions target, while simultaneously creating thousands of jobs and promoting thriving economic activity.