The Western Australian government will invest $502 million (USD 331.5 million) to fast-track the development of clean energy projects and expand the state’s electricity network while $500 million has been committed to unlock strategic industrial areas (SIAs) that are to play host to renewable energy and green hydrogen hubs.
The new investments, announced as part of the 2024-25 State Budget, includes a $324 million investment into the state’s main electricity network to allow more clean energy projects to connect to the grid.
This new funding will allow state-owned electricity distributor Western Power to continue assessment and development of potential transmission projects identified in the South West Interconnected System (SWIS) Transmission Infrastructure Update 2024.
The update, released late last week, details 143 proposed Clean Energy Link (CEL) transmission projects required to meet renewable generation demand for WA’s future.
Image: West Australian Government
The new funding also includes $147.6 million to support the development of common user network infrastructure in the North West Interconnected System (NWIS).
WA Premier Roger Cook said the clean energy transition is the biggest economic transformation in decades and he is determined to make sure the state emerges as a global clean energy powerhouse.
“Investing in our electricity grid will unlock major job-creating clean energy projects that will set up our state and our economy for the long term,” he said.
“By investing in the energy transition, we’re locking in a cleaner, affordable and reliable energy future for WA, while helping our trading partners reach their net zero goals.”
Other commitments announced as part of the energy transition investment include $18.4 million for the deployment of 50 standalone power systems in Esperance and the Mid West, and $4.5 million to buy existing power station assets that service the remote communities of Ardyaloon, Bidyadanga, Beagle Bay, Djarindjin Lombadina and Warmun.
Also announced as part of the 2024-25 State Budget is the $500 million Strategic Industries Fund that will deliver common user and other enabling infrastructure at SIAs across regional and metropolitan WA.
An initial $125 million will be invested to open up new industrial land at in Kwinana, a further $20 million will be allocated to develop general industrial land in Karratha and in the Peel region, while $20 million has been set aside to unlock land in the Goldfields and South West.
Cook said there has been significant interest in access to industrial land across the state for renewable hydrogen, critical minerals processing and other job-creating industries, and the new investments will help facilitate and support more clean energy production across metropolitan and regional WA.
“We have the renewable resources, skills and trading partnerships to become home to job-creating clean energy mega-projects, and our Strategic Industries Fund will help to unlock the industrial land we need to get these projects off the ground,” he said.
These latest investments are in addition to the $35 million included in the previous budget to progress works on SIAs in the Pilbara and on top of the $160 million industrial lease incentive scheme announced late last year 2023 to attract clean energy projects to SIAs.
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