June 7, 2021 Read More →

ElectraNet gives final approval for share of link between SA, NSW

Renew Economy:

ElectraNet will invest $457.4 million to deliver the South Australian section of the interconnector – from Robertstown to the New South Wales border – while Transgrid will spend $1.83 billion on its share of the link from the border to Wagga Wagga.

“Project EnergyConnect is landmark project that will drive competition in the wholesale electricity market by connecting more, low-cost generation to the national electricity grid and support the ongoing transition to a lower carbon emissions future,” CEO Steve Masters said in a statement.

ElectraNet says that South Australian consumers can expect an average saving of around $100 a year on their electricity bills because of the new low cost wind and solar projects that this new link will unlock, along with additional storage.

However, the Australian Energy Regulator last week noted that bills will initially rise, albeit by a fraction of those likely savings, until the full benefits of the 900km, 800MW link can be delivered.

The AER’s final approval was crucial for the project to go ahead, as was the $280 million commitment from the Clean Energy Finance Corp in what was the biggest single investment it has made to date.

[Giles Parkinson]

More: ElectraNet approves landmark “freeway” for wind, solar and storage

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