Key Points
A Rebecca White Labor Government will double Tasmania’s energy supply by building a new pipeline of renewable electricity assets right here in Tasmania.
We will create a new entity to manage Tasmania’s wind assets, and will partner with industry to build new wind farms here in Tasmania.
Th entity will be focused on growing Tasmania’s economy and supporting secure, well-paid jobs.
Labor’s Tasmania First Energy Plan will:
- Put Tasmanians first
- Drive new investment in wind power.
- Take minority equity positions in the early stages of the development of new wind farm projects.
- Bring Hydro’s existing wind assets under the new entity to create equity and expertise.
- Guarantee new transmission for every wind farm developer.
Use the savings from the Basslink Facility fee windfall to protect consumers and industrial users.
Why we need it
It has been almost 1200 days since any new electricity generation came online in the state. Hydro Tasmania has not built any new generation assets since 2013 and now is focused on building one in Victoria.
"We will build a new pipeline of renewable electricity assets right here in Tasmania."
The Liberals’ plan was Marinus, but after 10 years in office, they have spent more than $130 million and delivered nothing. Now, they’ve had to cut the project in half and have scrapped components of northwest transmission which were supposed to connect six new wind farms.
Meanwhile, at least 10 major businesses have been turned away from investing in Tasmania by Hydro because there is no power available, and Tasmanians have seen a 22.5% rise in power prices in the last two years alone.
The details
Labor will create a new entity under the Government Business Enterprises Act 1995 to facilitate and manage Tasmania’s creation of new electricity assets.
This will involve:
- The transfer of Hydro Tasmania’s existing wind assets under the ownership of the new entity, creating equity and new expertise to drive new investment in wind.
- Using these assets to provide the entity with sufficient borrowing capacity to invest in new projects.
- Seeking partnerships with new wind projects by taking equity positions (less than 50%) in the early stages of development to drive investor confidence and a return for Tasmanian taxpayers.