The controversial Humelink and VNI West transmission projects are set to get support from the green bank, as it builds on last year’s clean energy commitments.
Australia’s green bank is poised for its first investments in the power grid as it gears up for another busy year after a record 12 months of investment commitments in 2022-23.
, Mr Learmonth said the commission was working closely with the proponents on social licence where it can, while acknowledging these issues have led to delays.The lagging build-out in the transmission grid is being blamed for growth in renewable power capacity falling behind what is needed to meet 2030 climate targets.
Major commitments last year included up to $222.5 million to support the huge 756-megawatt Golden Plains wind farm under construction near Geelong, andAdvertisement “But what we’re trying to do is use our flexible and in some cases concessional capital where we can to help address some of those issues, so still make those projects viable and bring forward their build-out in spite of some of those economic challenges.”
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