HumeLink Transmission Project Receives Green Light
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Construction Set to Begin on Transformative Energy Infrastructure
The HumeLink Transmission Line, a $4.89 billion project, is set to commence construction in early 2025 after securing approvals from New South Wales and Federal governments, along with the Final Investment Decision (FID) by Transgrid’s Board.
Key Highlights:
1. Economic and Consumer Benefits:
Over $1 billion in net benefits expected for Australian consumers.
Significant opportunities for suppliers and job creation at both regional and national levels.
2. Major Investments:
Transgrid to invest $1.5 billion, building on a $690 million investment for the VNI West CPA1 project in 2024.
Clean Energy Finance Corporation (CEFC):
$450 million in concessional-loan financing for HumeLink.
$1 billion via subordinated notes.
$140 million for the VNI West project in 2024.
3. Project Timeline:
Construction begins: Early 2025.
Completion: Late 2027.
4. Energy Transition Goals:
Supports Australia’s net zero targets and transition to renewable energy.
Provides millions of Australians with access to cheaper renewable energy.
Community-Centric Approach
Transgrid CEO, Brett Redman, emphasized collaboration with local communities, landowners, and contractors. Transgrid plans to invest $11 million in community initiatives, prioritizing employment, training, and skills development.
“We aim to balance community needs with the long-term interests of all energy consumers, delivering decarbonization and more affordable energy,” said Mr. Redman.
HumeLink, alongside the VNI West interconnector, is pivotal to modernizing Australia’s energy grid, ensuring affordability and sustainability for future generations.
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