NSW electricity transmission operator Transgrid has released an energy roadmap that outlines the $16.5 billion investment required for the state to transition to a cleaner and cheaper electric future.
The “System Security Roadmap” outlines Transgrid’s plan to grow the NSW power system to 100 per cent instantaneous renewables in the grid during the next decade.
The transmission operator is engaging in a major low-emissions works program across three pillars:
- Energy reliability: Investing $14 billion to build a 2500km energy superhighway of essential transmission lines and infrastructure to connect new large-scale renewable energy and storage to the grid, integrate five renewable energy zones, and expand transmission interconnection between regions and states.
- System security: Deploying $2.2 billion in technologies and services to maintain grid security without coal generation.
- Operability: Changes to analytical and operational capabilities and capacity, including a $300 million investment to strengthen Transgrid’s technology tools, workforce and training.
“Modernising the energy grid to bring down energy prices requires us to build enormous amounts of new transmission to connect renewable generation in record time,” says Transgrid CEO Brett Redman.
“The only way to bring down energy prices is to deliver cheaper renewable energy as soon as possible. Transgrid must build and operate the backbone of this new grid while ensuring the safety, reliability and security of our existing 13,000km transmission system.
“With more than 80 per cent of coalfired capacity in NSW expected to retire and 28GW of new renewable and storage capacity coming online in the next 10 years, we must urgently accelerate investment in all areas of the energy transition.”
Transgrid’s new energy superhighway includes the EnergyConnect, HumeLink and VNI West projects.
“There will be no transition without transmission, however the enormity of the task and the challenges we face must not be understated,” says Redman.
“We must embrace innovation, invest in technology, develop a larger and more skilled workforce, and strengthen our capabilities if we are to achieve a rapid transition to a low-emissions energy system providing clean, affordable and reliable electricity to Australians.”