As part of its new electricity strategy, the New South Wales (NSW) will create a new 3 GW Renewable Energy Zone, with the objective to foster the development of renewable energy in the region, as coal-fired power plants produce 80% of the state’s electricity. Four of the NSW’s five coal-fired power plants will be decommissioned by 2035.
The renewable zone is expected to be commissioned by 2022. No details of the incentives have been provided. In the long run, the government of the NSW intends to develop 3 renewable energy zone in the state. The NSW said it received 100 private sector proposals to build renewable power plants, totalling 17.7 GW of capacity and AUD24bn (US$16.3bn) of investment.
In addition, the state government proposes to create an Energy Security Safeguard to encourage the implementation of energy efficiency technologies and a Energy Security Target to guarantee the stability of the electricity grid during the hottest days.