The New South Wales government’s plan to establish its first renewable energy zone in the state’s Central West has received a “phenomenal” response, attracting 113 registrations of interest for projects totalling a massive 27 gigawatts and valued at $38 billion.
The stunning response was revealed on Tuesday, less than one month after the state Coalition government put out the call for 3,000MW or more of potential wind, solar and storage project proposals looking to join the state’s – and Australia’s – first Renewable Energy Zone (REZ).
“The Central-West Orana REZ is expected to generate $4.4 billion in investment, create 450 construction jobs, help put downward pressure on electricity prices and allow landowners to diversify their incomes by hosting renewable energy infrastructure.
The happy news of the stunning market response was accompanied by the announcement of a boost to state funding for the scheme, with a further $31.6 million added to the $9 million already committed, making a total of just over $40 million.
“The Central-West Orana REZ, the first of the State’s three Renewable Energy Zones, will be the modern-day equivalent of a traditional power station, capable of powering 1.3 million homes.