More than $100b worth of projects have been pitched for a Renewable Energy Zone right here in the Hunter.
If the RNZ is established it could deliver more than 40 gigawatts of baseload power to the national grid.
There has been interest from all corners of the energy sector with proposals for 24 solar energy projects, 35 large-scale batteries, seven offshore wind farms and eight pumped-hydro projects received under the expressions of interest stage.
While there’s still a long way to go before any investment is banked, the region’s leading business group Business Hunter is excited about the results.
CEO Bob Hawes believes moving forward with the concept of an energy precinct will secure power supply as the world transitions away from coal.
“It is going to ensure that we do have a much better program in place to be able to replace the enormous capacity of the coal-fired power stations that are going to be taken offline in the coming years,” Mr Hawes said.
“That is really important for business here in the Hunter and across the Central Coast, and for that matter the rest of Australia to have an affordable, reliable supply of power into the log term.”
It could also cement local jobs and the Hunter’s future as an energy powerhouse.
“This is an unequivocally strong signal that our region is a target for economic diversification and prosperity in energy markets. What I’m seeing here is jobs, jobs, jobs, and a real appetite to sure up a workforce market that will support transition,” Mr Hawes said.