Renewable Energy Transformation Agreement signed by Western Australia
The Western Australian Government announced on 22 July 2024 that it had entered into a Renewable Energy Transformation Agreement (Agreement) with the Commonwealth. The Agreement is part of the Albanese Government’s plan to deliver an additional 32 gigawatts of renewable generation and storage in Australia by 2030 and is designed to overcome the barriers faced by project proponents and governments in delivering renewable energy projects.
Under the Agreement, the Albanese Government will underwrite developers to build a minimum 6.5 terawatt hours of new wind and solar projects in WA, as well as 1.1 gigawatts of new storage.
The WA and Federal Governments have also committed to a range of practical actions as part of the Agreement that will improve community engagement and drive better social and economic outcomes from the energy transformation. This includes increasing First Nations participation and benefits, progressing skills and workforce development, and reinforcing renewable energy supply chains