VNI West gets green light for early works
The New South Wales section of the Victoria to New South Wales Interconnector West (VNI West) is set to advance to the next stage.
Image for illustration purposes.
Australia, NSW: The New South Wales section of the Victoria to New South Wales Interconnector West (VNI West) is set to advance to the next stage with Transgrid securityholders committing almost $700 million to progress early works on the nation-critical project. In recognition of the importance of the project to the National Electricity Market, the Clean Energy Finance Corporation (CEFC) has also provided $140 million in concessional financing support, under the Federal Government’s $20 billion Rewiring the Nation (RTN) program.
Transgrid CEO Brett Redman said: “We are proud to be progressing the development of this major new 500 kV infrastructure in NSW. The new transmission line will connect renewable energy zones in NSW and Victoria to the national electricity grid, delivering cleaner and cheaper electricity to families and businesses. The project is forecast to deliver around $1.4 billion in net market benefits.”
The Australian Energy Regulator approved the VNI West Contingent Project Application (CPA Stage 1) in May. It outlined the preliminary consumer savings and estimated costs for early works and delivery of the line. Transgrid’s security holders demonstrate strong support for the growth of the business, with a significant additional equity commitment of almost $700 million to fund VNI West.
This allows Transgrid to progress early works such as securing Long Lead Equipment like transformers, reactors, conductors, and steel; detailed design of substations and transmission lines, and market engagement to identify preferred construction contractors, environmental impact assessments and submissions; and community and stakeholder engagement.
The project, together with the HumeLink and EnergyConnect projects, could reshape the National Electricity Market and enable access to more affordable, reliable, and sustainable electricity. The Victorian section is being developed by Transmission Company Victoria, a wholly owned subsidiary of the Australian Energy Market Operator (AEMO).
Source: Transgrid
#Australia#New South Wales#New South Wales Interconnector West#TransGrid#transmission line#Victoria#VNI West
