ASI has lobbied successfully for the inclusion of local steel content targets in Australia's largest energy transition program.
The NSW Government's $32b NSW Renewable Energy Sector Plan will see NSW transition from ageing coal generators to renewables, with up to 12GW of new wind and solar capacity by 2030.
ASI as a member of the Board advocated strongly over the past 18 months for the inclusion of minimum requirements for local steel design, fabrication, manufacturing, distribution and production within the plan.
The NSW Minister for Energy and the Consumer Trustee, AEMO Services, will take the Board’s plan into account when exercising its functions under the Electricity Infrastructure Investment Act 2020. The targets for local steel products and components have both a minimum and a ‘stretch’ goal requirement to reflect that investment is required in some areas before local capacity can meet the expected demand level.
The targets cover wind power, solar power, pumped hydro, battery storage, as well as network projects, with the stretch goals typically set at 95%. The ASI believes the multi-year implementation timeframe of the plan and the extent of the infrastructure build requirements mean it is a good result for all participants in the local steel supply chain, with a significant pipeline of ongoing work.
The first of more than a dozen tenders will open next month with a target of 2,500GWh (wind and solar) and 600MW long-duration storage (pumped hydro, big batteries).