29 March 2019
The Underwriting New Generation Investments program is a key part of the Australian Government's plan to deliver affordable and reliable power.
The government received a strong response to the registration of interest process, with 66 proposals submitted, and has agreed to a shortlist of 12 projects: 6 renewable pumped hydro projects, 5 gas projects and 1 coal upgrade project.
As recommended by the ACCC, the selection process has been technology neutral, with projects selected for the shortlist representing a range of fuel types.
The projects were selected to deliver a balance which includes renewable, affordable and reliable power for families and businesses and ensures that Australia meets its 2030 targets.
