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Declaration of the New England Renewable Energy Zone

2024-02-02
Following the announcement of the Mid West Olana Renewable Energy Zone (REZ) in early November 2021, the NSW Government has announced the establishment of Australia's second Renewable Energy Zone (REZ) in New England.

NSW Department of Energy CEO James Hay has hailed the development as a significant milestone in the state's electricity infrastructure roadmap.

 

"Renewable Energy Zones are the equivalent of modern power stations, combining low-cost renewable energy with backup energy from storage and transmission to provide cheap, reliable, and clean energy," Hay said.

 

"New England has some of the best natural energy resources in the country, including some of the state's most promising pumped storage plants, and investor interest is high.

 

"The New England REZ will drive $10.7 billion in private investment, approximately 830 operational jobs and 1,250 construction jobs per year.

 

The NSW Government has committed A$78.9 million to support the development of the New England REZ as a first step towards formalizing the zone under the Electricity Infrastructure Investment Act 2020.

 

Mr Hay highlighted the positive impact of the REZ on traditional farming communities, providing drought resilience and an additional revenue stream for power infrastructure landowners. He projected that landowner lease payments would reach approximately $660 million by 2042.

 

The Renewable Energy Zone will also play a key role in meeting our commitment to halve national emissions by 2030 and achieve net-zero emissions by 2050," Hay said.

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