Under the Rewiring the Nation Program, the Federal Government has signed a landmark $250 million deal with the Northern Territory Government.
Through the Clean Energy Finance Corporation (CEFC), the investment is expected to create hundreds of new jobs and upgrade and expand the power grid across the Territory, supporting major transmission projects and bolstering grid strength.
The Rewiring the Nation investment will also accelerate the rollout of transmission projects across the Territory, with the first wave of these scheduled for completion before 2030.
The Northern Territory Government has also signed an agreement to deploy community-scale solar, rooftop solar and clean energy technologies. This will provide up to $500 in energy cost savings per year for consumers locked out of installing their own rooftop solar, like hardship customers, renters and apartment dwellers.
Projects financed under this agreement will contribute to the energy mix across the Territory by increasing the amount of renewable generation, such as solar and wind, and reducing reliance on power generation from fossil fuels.
In addition to priority projects supporting the Darwin-Katherine Interconnected System, projects in Alice Springs and Tennant Creek could also receive support as part of the decarbonisation of the Northern Territory’s energy system.
The Federal Government has now negotiated five agreements under the $20 billion Rewiring the Nation program, with previous deals in New South Wales, Tasmania, Victoria and Western Australia.
Chief Minister of the Northern Territory, Eva Lawler, said that this agreement with will ensure that Territorians have reliable power supply into the future.
“Battery technology will play a significant role in our target of reaching 50 per cent renewable energy consumption by 2030,” Ms Lawler said.
“By owning our assets we can keep power prices low. Only a Territory Labor Government will keep our assets in the hands of Territorians.”
Minister for Climate Change and Energy, Chris Bowen, said “This agreement will put downward pressure on energy costs for Territorians.
“Rewiring the Nation is about delivering jobs while delivering cleaner, cheaper and more secure energy for homes and businesses.
“The Albanese Government sees the states and territories as key partners in unlocking more jobs and cheaper power bills through the energy transformation. Today’s deal with the Northern Territory Government is another step towards that.
“When I visit communities driving this transformation they ask for investment now, rather than in 20 years as proposed by the Opposition. The Albanese Government is getting on with the job of delivering the energy transformation and lowering household power bills with more reliable renewables into our grid,” Mr Bowen said.
Northern Territory Minister for Energy and Renewables, Kate Worden, said that investing in battery technology ensures that Territorians will have reliable power supply as more renewable energy is integrated into the electricity grid.
“We can make these investments because the Territory Government owns our assets like Power and Water, Territory Generation and Jacana,” Ms Worden said.
“Because we own our assets, we can keep the cost of power low. We also subsidise the power bill of every Territory household by $1500 a year through the Community Service Obligation.”
Featured image: Joe Ferrer/shutterstock.com
