New South Wales, Australia aims for $23.3 billion of private investments in renewables space

The state of New South Wales in Australia announced its plans to shift from coal-based power to renewables in the next decade, for which it will look to mobilise $23.3 billion of private investment in the renewables sector. The state authorities plan to attract private participation by improving the approval process, reducing bureaucratic hurdles, and ensuring timely clearances. The authorities also aim to set up roughly 12 GW of wind and solar power capacity along with 2 GW of energy storage capacity, including pumped hydro, by 2030.

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