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Record investment in the Central-West Orana REZ

23 May 2024
Regulation and policy updates

The Clean Energy Finance Corporation (CEFC) has confirmed a landmark $490 million investment in the Central-West Orana Renewable Energy Zone (REZ).

The CEFC finance comes via its Rewiring the Nation Fund, created by the Australian Government in 2023 to help make energy projects a reality.

Why this investment matters

Boosting renewable energy: This $490 million investment will help us create the Central-West Orana REZ around Dubbo. Rich in solar and wind resources, this project will add 4.5 gigawatts of new renewable energy capacity, ensuring timely delivery of cleaner, greener energy for our homes and businesses.

Lowering costs for consumers: By securing this funding on favourable terms, we can reduce the overall costs of developing the energy grid. This translates to an estimated $240 million in savings for NSW electricity consumers over the next 20 years.

Addressing urgency: The Australian Energy Market Operator (AEMO) has highlighted the urgent need for timely investments in the Central-West Orana REZ as an actionable project critical to the National Electricity Market, ensuring our electricity supply remains reliable as old coal power stations retire. This project will help us manage those risks and maintain a steady power supply.

Importance of the Central-West Orana REZ 

The importance of this REZ to NSW and national decarbonisation ambitions is reflected in the detailed and collaborative work on finance with the CEFC.

The Australian Government has prioritised investment in the Central-West Orana REZ via the $19 billion Rewiring the Nation Fund and, together with EnergyCo and the CEFC, is progressing associated financing arrangements.


From left: Alexandra Finley (Chief Finance and Operations Officer, EnergyCo) and James Hay (Chief Executive, EnergyCo)