NSW’s Renewable Energy Plan Creates Onshore Steel Opportunities

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NSW Energy Minister Matt Kean released a renewable energy plan that promises households and industry cheaper and cleaner power. The massive $32 million funding package will expand wind and solar farms in regional NSW. To achieve this, Kean stated, “my priority is finding ways to make sure that the steel and other products that power NSW, are made in NSW by NSW manufacturers.”

This new infrastructure will not only put NSW in the top 10 for lowest industrial electricity prices in the OECD (Organisation for Economic Co-operation and Development), but also generate 6,300 construction jobs and 2,800 ongoing jobs, along with $1.5 billion in lease payments for regional landowners.

“Our priority is to keep the lights on and get power prices down,” Minister Matt Kean.

Following a turbulent year, onshore manufacturing has been highlighted as essential for Australia’s future. The New South Wales Government is looking to increase steel production in New South Wales as part of the transition to renewable energy infrastructure.

The steel industry needs to have a strong hold in Australia, as steel fabrication is the foundation of additional builds. National Secretary Daniel Walton said it has taken a pandemic to shift government thinking.

“Be it our schools, be it our hospitals, be it our roads and tunnels — steel goes into every single one of those projects.” 

The government will look at contracting arrangements to, “explore ways to give NSW manufacturers a competitive advantage in emerging ‘green’ supply industries”.

Three-quarters of NSW’s ever-declining coal-fired power stations are set to close within 15 years of the renewable plans reveal. Their technical life is dwindling, increasing the demand for renewable energy alternatives. 

The NSW renewable energy plan is taking a step in the right direction and the steel industry is embracing the opportunity. 

The Nature Conservation Council’s Chief Executive Chris Gambian also commended the plan, describing it as “serious action on climate change in a way that will also create jobs and bring down power prices”.

Read more on the importance of onshoring Australian Manufacturing HERE.

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