Transgrid has revealed plans to make an investment of A$16.5bn ($11.2bn) to build and operate a safe, reliable, and low emissions electric transmission system in New South Wales (NSW), Australia.
The NSW transmission network service provider’s investment plan is part of its System Security Roadmap to expand the state’s power system and guarantee the secure functioning of the grid at up to 100% instantaneous clean energy over the next ten years.
Under the programme, Transgrid will allocate A$14bn ($9.5bn) to build a 2,500km energy superhighway of vital transmission lines and infrastructure for connecting new large-scale clean energy and storage projects to the grid.
Transgrid also aims to integrate five renewable energy zones as well as expand transmission interconnection between regions and states.
The company’s 1,600km Southern Superhighway represents an investment of A$7bn ($4.75bn). It includes three major projects, namely EnergyConnect, HumeLink, and Victoria to NSW Interconnector West (VNI West).
In May 2022, Transgrid started construction on the NSW section of the 900km EnergyConnect transmission project.
The transmission network service provider also seeks to deploy nearly A$2.2bn ($1.5bn) in new system-strength technologies and services to keep the grid’s secure operation without the use of coal generation.
Besides, Transgrid will invest A$300m ($203.4m) to bolster its technology tools, workforce, and training.
Transgrid CEO Brett Redman said: “Transgrid must build and operate the backbone of this new grid while ensuring the safety, reliability and security of our existing 13,000km transmission system which powers millions of homes and businesses.
“With over 80 per cent of coal-fired capacity in NSW expected to retire and 28GW of new renewable and storage capacity coming online in the next 10 years, we must urgently accelerate the investment in all areas of the energy transition.”
