Transgrid to spend $11 bln to prepare Australian state for 100% renewables – EQ Mag
$11 billion allocated to accelerate transition to clean energy in Australia
In a groundbreaking announcement, Transgrid, the major grid operator in Australia, has unveiled a bold infrastructure investment plan that will propel the most populous state towards achieving 100% renewable energy within a decade. With a commitment of A$16.5 billion ($11.20 billion), Transgrid aims to revolutionize the state’s energy landscape, preparing it for a cleaner and more sustainable future.
Transgrid, which was privatized in 2015, will allocate funds to deploy batteries and other energy storage solutions, as well as construct 2,500 kilometers of new transmission lines. This extensive network will cover an area larger than Texas, ensuring the secure operation of the grid even with up to 100% instantaneous reliance on renewable energy sources.
As the operator and manager of the high voltage electricity transmission network in New South Wales (NSW) and the Australian Capital Territory (ACT), Transgrid plays a crucial role in connecting generators, distributors, and major end users. Over the years, the company has demonstrated technical excellence by enabling the smooth operation of over 13,000 km of high voltage transmission wires and 121 substations.
Transgrid’s extensive network serves as the backbone of the National Energy Market, facilitating energy trading between Australia’s three largest states along the east coast. Furthermore, it supports the competitive wholesale electricity market and actively leads the transition to a clean energy future.
With the commitment to invest in infrastructure, Transgrid has solidified its pivotal role in the energy transition. Chief Executive Brett Redman emphasizes the necessity of transmission, stating that without it, there can be no successful transition. The retirement of over 80% of coal-fired capacity in NSW and the arrival of 28 gigawatts of new renewable and storage capacity within the next decade call for urgent acceleration of investment across all energy transition sectors.
Transgrid’s plan serves as a testament to the scale of investment required to achieve the Labor government’s ambitious target of reducing carbon emissions by 43% from 2005 levels by 2030. It also highlights how a significant portion of the spending will be allocated to sectors beyond the construction of wind, solar, and hydro projects.
Over the next decade, a vast network of new energy sources, including hundreds of wind and solar projects, as well as millions of rooftop solar panels, will replace the retiring coal-fired capacity concentrated in large plants. The allocated funds, with A$14 billion dedicated to transmission lines, will ensure the connection of new clean energy projects to customers.
Additionally, A$2.2 billion will be invested in energy storage solutions to secure the grid during the closure of coal plants, including the deployment of 10 gigawatts of batteries. Furthermore, A$300 million will be utilized to hire new staff and implement advanced technologies that will enhance the operation of the upgraded grid.
While work on projects such as EnergyConnect, a 900-kilometer transmission line connecting grids across three states, has already commenced, the majority of the announced plan is yet to begin.
Transgrid’s commitment to becoming 100% renewable within a decade sets a remarkable precedent for Australia’s energy sector and reinforces the country’s dedication to combatting climate change. Through this substantial investment, Transgrid is paving the way for a greener, more sustainable future, solidifying its position as a key player in Australia’s clean energy transition.
Source: PTI
