NSW is undergoing a major energy transformation. As energy demand grows and our state’s coal-fired power stations retire, we need to invest in the right infrastructure to meet our needs now and for the future.
The Energy Security Corporation is a $1 billion government-backed clean energy investor with a clear public mandate: to accelerate investment in large-scale storage and enabling infrastructure to support a reliable and secure electricity system for NSW.
Established in June 2024 under the Energy Security Corporation Act 2024, its objectives are to:
- accelerate private sector investments in clean energy projects in NSW that improve the reliability, security and sustainability of electricity supply
- support NSW to achieve its emissions reduction targets under the Climate Change (Net Zero Future) Act 2023
- complement other government initiatives relating to clean energy technologies and partner with the private sector to finance clean energy technologies
- achieve a government-mandated rate of return through a portfolio approach.
Investment priorities
The Energy Security Corporation’s investment focus areas are informed by its Investment Mandate which is directed by the Minister for Energy.
Priority areas for investment include:
- utility-scale storage projects, like pumped hydro and big batteries
- system security and network infrastructure, like existing network upgrades
- consumer energy resources, like scalable platforms and portfolios of rooftop solar and batteries.
With the financial flexibility to use equity, debt, and hybrid instruments, with concessionality, the Energy Security Corporation can help close financing gaps and move projects forward. It invests between $25 million to $150 million per project, targeting initiatives that need flexible capital to reach financial close. The Energy Security Corporation operates independently and its investment decisions are approved by its Board.
For the latest news and updates about the Energy Security Corporation visit escorp.com.au