Australia’s investments to upgrade grid infrastructure
As the need for private and public capital in grids rises globally, the Australian government has invested in upgrading its transmission infrastructure.
In December 2022, the Australian federal government and the state government of New South Wales announced a joint deal worth $5.3 bn to support transmission grids and renewable energy zone projects, which is expected to support almost 4000 jobs.
The electricity grid in Australia was established around power plants and urban centres, which essentially means that it was not built with solar or wind projects planned. The proposed capacity for renewables has surpassed what the grid can support.
There is roughly 446 GW of renewable energy capacity at all stages of development across Australia, while the country uses around 40 GW of renewables capacity at this moment.
Source: FDI Intelligence