SA clean energy boost under new deal

The deal is part of the taxpayer-funded Capacity Investment Scheme, which was unveiled by the Commonwealth in November.

The plan is an expansion of pilot arrangements in South Africa, NSW and Victoria, aiming to replace the country’s increasingly expensive coal-fired power stations through federal investment in partnership with states and territories.

Federal Energy Minister Chris Bowen said the plan would bring certainty to the energy market.

“We continue to deliver practical solutions to keep the lights on for households and businesses using the cheapest, cleanest form of energy: reliable renewable energy,” he said.

“It doesn’t always rain, but we always have water from the tap because we store it for when we need it. Our energy plan does exactly the same for reliable renewable energy sources.”

Tenders for six gigawatts of renewable energy will open in May, with at least 2.2 gigawatts allocated to NSW.

SA will receive at least 300 megawatts of renewable energy, although the federal government said this is subject to a final agreement.

The first round of procurement for WA will follow in mid-2024, with 500 megawatts of renewable energy allocated to the state.

Federal Labor aims for 82 percent renewable energy by 2030 and net zero emissions by 2050.

The aim is to have 32 gigawatts of capacity under the plan by 2030 – about half of the current national electricity market.

The government has not yet announced how much the scheme will cost.

– MONKEY