South Australia secures deal for improved renewable energy reliability

South Australia has signed its first Renewable Energy Transition Agreement, securing federal funding to build enough renewable energy infrastructure to power all Adelaide households. The agreement aligns with the Albanian government’s plan to add 32 gigawatts of renewable energy and storage across the country by 2030 under its Capacity Investment Program.

The agreement addresses the need for ambitious renewable energy projects due to growing energy demand and aging infrastructure. It aims to overcome the barriers faced by developers, communities and governments, ensuring a joint effort to integrate reliable renewable energy sources into the grid and benefit all communities. Key features of the agreement include:

Federal financial support for at least 1,000 megawatts of new wind and solar projects, enough to power Adelaide households.
Federal insurance for 400 megawatts of new storage capacity, for a total of at least 600 megawatts, to ensure 24-hour availability of renewable energy.
South Australia’s commitment to the Hydrogen Jobs Plan and the establishment of a mechanism to ensure grid reliability across states.
Collaborative efforts to improve community engagement, increase First Nations participation, and streamline planning and approval processes for on-time project completion by 2030.
Shared responsibility for strengthening transmission, workforce skills and performance, energy efficiency, community energy resources and renewable energy supply chains.

“The Albanian Government is providing the certainty and confidence that the market has been asking for for a decade. The more renewable energy we have on our grid, the more pressure it puts on our energy bills because it is the cheapest form of energy to power homes and industry. Giving the market the confidence to build new projects is good; signing a partnership with South Australia on practical steps to make the most of this energy transition for South Australian workers, communities and industry is great. The Albanian Government’s robust renewables plan is the only plan backed by experts that delivers the clean, cheap, reliable and resilient energy system that Australians deserve. This is a stark contrast to Peter Dutton’s anti-renewable nuclear plan – which remains unpriced and unexplained,” said Minister for Climate Change and Energy Chris Bowen.

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