- Project EnergyConnect will get up to a $295 million boost from the Morrison Government
- This project is a new 330-kilovolt, transmission line that will span for more than 900 kilometres to connect South Australia to New South Wales
- In addition to the government’s multi-million-dollar investment, TransGrid is investing a whopping $1.8 billion to Project EnergyConnect
- Not only will the project create up to 1700 jobs during construction, households in South Australia and New South Wales can expect to save money on their electricity bills
The Morrison Government has shown its support to Project EnergyConnect as it plans to invest up to $295 million through the Clean Energy Finance Corporation.
The government support has helped electricity operator, TransGrid, underpin its investment decision of $1.8 billion into the project.
Project EnergyConnect is a new 330-kilovolt transmission line connecting South Australia to New South Wales.
Importantly, the project has been marked a ‘priority’ by the Australian Energy Market Operator’s 2020 integrated system plan.
Project EnergyConnect will span for more than 900 kilometres and will create up to 1700 jobs during construction.
The project also brings good news to energy consumers, with households in South Australia expected to save up to $100 a year on electricity bills and New South Wales consumers will save as much as $60 a year.
Commenting on the news, Minister for Energy and Emissions Reduction Angus Taylor said he was pleased with TransGrid’s announcement.
“Project EnergyConnect is yet another initiative we’re backing to maintain pressure on prices and keep the lights on for Australians,” he said.
“As record levels of renewable energy come online, we are continuing to ensure Australia’s energy system remains reliable and affordable. Interconnector projects can help support a more reliable energy system and reduce the risk of blackouts and electricity price volatility,” he added.
The Morrison Government has told the media it plans to deliver reliable, secure and affordable power for Australians.