Focus on renewables

Sydney: New South Wales state said yesterday it would shift towards renewable energy from coal and aim to lure $A32 billion ($NZ32.26 billion) of private investment into the sector in the next decade.

Australia’s most populous state said it would cut red tape and speed up approvals for businesses to invest in renewable energy projects.

Four of its five coalfired power plants are expected to close in the next 15 years.

The plans would create close to 10,000 jobs and aim to bring 12GW of wind and solar power and 2GW of storage, such as pumped hydro, online by 2030. — Reuters