NEW SOUTH WALES (BLOOMBERG) - Australia's most populous state plans to fast-track its transition away from fossil fuels by encouraging investment in renewable-energy clusters.. Read more at straitstimes.com.
NEW SOUTH WALES - Australia's most populous state plans to fast-track its transition away from fossil fuels by encouraging investment in renewable-energy clusters.
"Environmentally speaking, the past 12 months have been the toughest in living memory for the people of New South Wales," state Energy Minister Matt Kean said earlier this week in a conference hosted by the Clean Energy Council, a renewables lobby group. The zones aim to address the problem of how to accommodate a surge in solar and wind generation in a power grid based around coal by coordinating the development of renewable facilities in the same location, making it more cost effective to build the transmission infrastructure to connect them to the network.
While the states are increasingly seeking to court clean energy investors, policy uncertainty at a national level has hampered growth in the sector.A long-term target for renewable generation was achieved last year, with no new incentive to replace it.
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