NSW Roadmap - Tender Round 1

We have announced the results of our inaugural tender for generation and long-duration storage infrastructure in NSW, a significant moment for the NSW energy transition.

Three projects representing 1,395MW of renewable generation and one long-duration lithium-ion battery project have been selected as the first tranche of infrastructure to fast track the replacement of the state’s existing coal-fired generators.

The generation LTESA strike prices are around 40% lower than the Levelized Cost of Energy and an equivalent Contract for Difference, and are amongst the lowest prices secured in any similar tender anywhere in Australia. This means NSW consumers will pay less for new generation infrastructure.

This tender was the first in our ten-year schedule of rolling tenders designed to deliver on the minimum infrastructure targets of 12GW of generation and 2GW of long-duration storage by 2030 required under the NSW Electricity Infrastructure Roadmap.

Benefits of LTESA Awarded Projects

Collectively, the impacts and benefits of the awarded LTESA projects are significant and far-reaching.

• Consumer value: Generation LTESA prices achieved in tender 1 are around 40% lower compared with a traditional Contract for Difference product used in other schemes.
• Emissions reduction: the awarded generation projects are projected to displace around 11 million tonnes of CO2 emissions across the contract term.
• Consumer value: We secured strike prices below $50/MWh for wind (2023 real) and below $35/MWh for solar (2023 real).
• Energy delivery: These projects will provide enough electricity to power around 700,000 homes.