Australian CEFC plans to invest AUD125 million in grid infrastructure

The Australian Clean Energy Finance Corporation (CEFC) is all set to make its first investment in grid infrastructure, even prior to the creation of its Grid Reliability Fund, which has been planned to aid investments in new energy generation, storage and transmission infrastructure projects.

The CEFC is offering an AUD125 million debt facility to help the New South Wales (NSW) transmission system operator (TSO), TransGrid, in connecting the federal government’s Snowy 2.0 pumped hydro project to the main grid. The said funds will be used to finance the design, construction, operation and maintenance of a new 300 kV switching station and transmission lines that will connect Snowy 2.0 to the main grid. This investment in the transmission network will facilitate the development of zero emissions energy storage, which in turn will help support the expansion of new renewable energy projects.

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