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Australian TSO secures debt facility for planned transmission corridor [free access]

February 18, 2021

The New South Wales (NSW) transmission system operator (TSO), TransGrid, has recently secured a bank debt facility worth AUD600 million to finance the planned grid augmentation on a proposed new transmission corridor commencing in the town of Wellington. The investment was collectively provided by a group of nine banks, both new and existing lenders to TransGrid.

 

The grid augmentation project is a part of the larger initiative to develop a Renewable Energy Zone (REZ) in Central-West Orana. The former will entail new high-voltage transmission lines running in a 180-km-long corridor from the existing network near Merriwa, passing south of Dunedoo, before continuing south-west and connecting at the existing network east of Wellington.

 

The transmission corridor for the REZ will be designed to help unlock up to AUD5.2 billion of private investment in the region by 2030, generating not only energy to replace the fossil-fuel power generation in NSW as coal-fired stations close over the coming decade, but also resulting in an estimated 3,900 new peak construction jobs and 500 ongoing positions in the region.

 

(AUD1=USD0.78)