Australia’s most populous state New South Wales on Monday launched a renewable energy roadmap which aims at attracting A$32 billion ($23.3 billion) of private investment into the industry until 2030. NSW will also simplify regulations and approval processes for companies to make investment in renewable energy projects. NSW has five coal-fired power plants, of which four are projected to retire over the next 15 years.
According to state Energy Minister Matt Kean, NSW's renewable energy roadmap is expected to open about 10,000 jobs. The projects will include the installation of 12 GW of wind and solar power and 2 GW of storage that will enter service by 2030.
Many Australian states support the implementation of renewable energy. However, the federal government is reluctant to match other developed nations in setting a goal for carbon neutrality by 2050. The Australian Industry Group said the Biden’s election could prompt Australia to speed up its climate target. However, Canberra noted that its policies would be based on Australia’s national interests.
