The Albanese Government is accelerating the delivery of reliable renewable energy in the Northern Territory after signing a landmark $250 million deal with the Lawler Government as part of the Rewiring the Nation Program.
Through the Clean Energy Finance Corporation (CEFC), the investment will create hundreds of new jobs and see the power grid upgraded and expanded across the Territory, supporting major transmission projects and bolstering grid strength, the government said in a news release.
“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,” said Minister for Climate Change and Energy Chris Bowen.
The Rewiring the Nation investment will also accelerate the rollout of transmission projects across the Territory with the first wave of these to be completed before 2030.
Chief Minister of the Northern Territory Eva Lawler stated, “This agreement with the Albanese Government will ensure Territorians have reliable power supply into the future.”
The governments have 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 unable to install their own rooftop solar, such as hardship customers, renters, and apartment dwellers.
“Rewiring the Nation is about delivering jobs while delivering cleaner, cheaper, and more secure energy for homes and businesses,” added Bowen.
Working together, the Commonwealth and Northern Territory Governments are securing crucial power bill price relief for Territorians, ensuring the Territory’s growing share of renewable energy is more reliable and secure while reducing emissions.
Projects financed under this agreement will contribute to the energy mix across the Territory by increasing amounts of renewable generation such as solar and wind and reducing reliance on power generation from fossil fuels.
“Battery technology will play a significant role in our target of reaching 50% renewable energy consumption by 2030,” Lawler emphasized.
In addition to priority projects supporting the Darwin-Katherine Interconnected System (DKIS), there is potential for projects in Alice Springs and Tennant Creek to also receive support as part of the decarbonization of the NT’s energy system.
“Investing in battery technology ensures Territorians will have reliable power supply as we move to integrate more renewable energy into our electricity grid,” said Minister for Energy and Renewables Kate Worden.
The Commonwealth 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.
“Because we own our assets, we can keep the cost of power low. We also subsidize the power bill of every Territory household by $1500 a year through the Community Service Obligation,” Worden highlighted.
