Premier Mike Rann has internationally unveiled a plan to establish a green energy hub for Australia’s Eastern seaboard based in South Australia.

Mr Rann said South Australia currently easily leads the nation in renewable energy investment, but he believes there is massive scope for renewable energy to be our next big industry alongside defence and mining.

“We want to create greater capacity in the State’s electricity grid to unlock billions of dollars in green energy investment,” Mr Rann said.

“Today I have announced a $1 million contribution to a feasibility study that will look at how to increase our State’s electricity transmission capacity.

“South Australia is a leader in green energy. For a State with just eight per cent of the nation’s population, we have done incredibly well in attracting 56 per cent of the nation’s grid-connected wind power, about 30 per cent of its solar power and more than 90 per cent of its geothermal developments.

“South Australia has now set a new target of 33 per cent of South Australia’s power generation coming from renewable energy by 2020 – which is bold, even in international terms.

“Prime Minister Kevin Rudd says he wants Australia to be generating 20 per cent of power from renewable sources by 2020. We will smash that target years ahead of time.

“But to go further we need to attract a greater investment in green power. My vision is to see a State-wide Green Grid of renewable energy feeding into the national grid out of South Australia – in wind, solar, geothermal and wave.

“We want to be a major source of green power for the eastern States so they can reach their targets.

“However, if we are to get serious about attracting more green energy – we are going to have to increase our transmission capacity.

“South Australia is one of the windiest and sunniest places in Australia – so it’s a prime target for renewable energy investors.

“We need to make sure those investors can hook into the best infrastructure they can to transmit that clean, green energy across the nation.

“This feasibility study by a consortium which includes the Macquarie Capital, WorleyParsons and Baker & McKenzie, will look at how and what we need to do to improve and significantly augment our capacity to transmit electricity across the grid.

“In particular, the consortium will be targeting the Eyre Peninsula.

“By increasing the capacity of the transmission lines in that area, it has the potential to unlock an estimated $6 billion in renewable energy investment that could generate up to 5000 MW of clean, green energy.

“Our renewable energy targets, now set down in State legislation, were designed to trigger exactly this type of investment in renewable energy power sources.

“Last year, we commissioned our State’s Economic Development Board to prepare a wide-ranging economic statement that included an examination of the pitfalls and potential opportunities that await South Australia in the future.

“One of the Board’s key recommendations was to ensure that we maximise and build on our State’s unique natural advantages in generating wind, solar, geothermal and wave energy.

“That will enable us to not only remain a leader in the development and use of “green” energy, but also to establish a significant renewable energy industry with “green jobs” that will underpin it.

“It is through our willingness to innovate and legislate that South Australia aims to secure a bigger slice of the economic opportunities that will inevitably accompany the clean industrial revolution.

“That’s why, in line with the EDB’s recommendation,  the State Government announced the $20 million renewable energy fund to be overseen by a newly-created RenewablesSA Board, comprised of independent experts.

“The first investment of the Fund will provide $1.6 million over two years to create a South Australian Centre for Geothermal Research, in conjunction with the University of Adelaide.

“The Fund will also foster investment in research and development, examine opportunities for manufacturing, and help assess how to develop a “green grid” based in South Australia but linked directly into the national power grid.

“At the same time as we made this announcement, we also committed ourselves to new, even more ambitious greenhouse targets, which will drive innovation toward development and commercialisation of low carbon technologies. 

 “We intend to remain a leader in green energy and this new feasibility study will help us ensure that we do,” Mr Rann said.
 

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