New South Wales

Australian asset manager HMC Capital has signed a $50 million deal to acquire a majority stake in Sydney-headquartered battery project developer Stor-Energy as part of its push into the renewable energy sector.

Three pumped hydro projects that would deliver a combined 1,035 MW / 9,480 MWh of dispatchable capacity are among six projects that have been declared critical state significant infrastructure by the New South Wales government, potentially smoothing the way for their approval.

The Maryvale solar and battery hybrid project being developed in central western New South Wales in one of two renewables projects with a combined generation capacity of 312 MW that have secured long-term energy service agreements through the state government’s latest tender round.

The Central-West Orana renewable energy zone transmission project, with a projected network capacity by 2029 of 6 GW, has planning approval to begin building trasmission infrastructure, including lines and energy hubs.

Seven transmission projects valued at $7.9 billion are declared newly actionable in the Australian Energy Market Operator’s 2024 Integrated System Plan, to progress the 10,000 km of new transmission lines needed to achieve a net zero economy by 2050.

Power giant AGL Energy has teamed with Melbourne-based solar panel recycling company Elecsome to explore the development of a PV materials recovery facility at the site of the coal-fired Bayswater power plant in the New South Wales Hunter Region.

New South Wales power grid owner Transgrid is looking at rolling out up to 14 synchronous condensers and 4.8 GW of batteries with ‘grid forming’ capability to protect and strengthen the security and stability of the electricity grid as coal-fired power plants retire and more renewables come online.

Legislation to establish the Energy Security Corporation has passed in the New South Wales parliament and will be seeded with $1 billion for accelerating private clean energy investments, and specifically not to invest in nuclear or carbon capture and storage.

Over the next three years energy retailer and tech company Amber Electric will trial a software solution for electric vehicle smart charging and bi-directional vehicle-to-grid services to enable consumers using their cars can buy and sell energy to the grid.

Climate change and energy received a $3.5 billion commitment in the New South Wales Budget on 18 June, plus $3.1 billon to deliver renewable energy zones, which got an extra $128 million boost to upgrade roads between them and the Port of Newcastle.