Australia State Unveils $42BN Energy Roadmap Renewable Energy Push

Australia’s New South Wales (NSW) state said on Monday (November 9) it would shift toward renewable energy from coal and aimed to lure A$58 billion ($42.2 billion) of private investment into the sector in the next decade.

Australia’s most populous state said it would cut red tape and speed up approvals for businesses to invest in renewable energy projects, with four of its five coal-fired power plants expected to close in the next 15 years.

The plans would create close to 10,000 jobs and aimed to bring 12 gigawatts (GW) of wind and solar power and 2 GW of storage, such as pumped hydro, online by 2030.

Most Australian states support greater use of renewable energy but the federal government has refused to match other developed countries in setting a target for net zero carbon emissions by 2050. Instead, Canberra says zero emissions will be reached some time after 2050.