The Commonwealth has given the go-ahead to the construction of two new nuclear plants, in Adelaide and Darwin, with a total capacity of 1,500 megawatts (MW).
Key points:The Government will approve a new nuclear power plant in AdelaideThe government will allocate $6 billion to build two new plants in AdelaideA $1 billion funding injection will go to Darwin’s Vogtle projectThe Government has allocated $6bn to build four new nuclear stations in the Northern TerritoryThe Australian Energy Market Operator (AEMO) has given approval for a new coal-fired power station in Adelaide.
The Government announced on Friday that it will approve the construction, at a cost of $6.5 billion, of two power stations at Adelaide and a Vogtle plant in Darwin.
The Adelaide and Fremantle power stations are due to be built by the end of 2021.
Both plants will provide around 50 per cent of the electricity demand in the region.
The money will be used to build the Vogtle nuclear power station, which will produce electricity at an estimated price of $8 per megawatt hour (MWh) for 12 years.
The government’s approval for the Darwin and Fremorne power stations is expected to be finalised in early 2019.
“The project will contribute significantly to the regional economy and to the economic health of the region,” Prime Minister Scott Morrison said.
“It will support jobs, create hundreds of construction jobs, and provide an additional source of electricity for the region.”‘
A strong investment’The Government said it had already received approval for three more power stations in Adelaide, including the new Vogtle power station.
“This project is an ambitious investment in the regional electricity network, and will contribute to regional economic growth,” Minister for Infrastructure and Regional Development Matthew Guy said.
Mr Guy said the Government had not received any objections to the Adelaide project.
“I would like to emphasise that this is a strong investment in regional Australia, it’s a very strong investment and will be a great boost for regional and regional businesses and the regional community,” he said.
The approval for two power plants in Darwin will come in the form of a $1.6 billion funding infusion.
The new $1bn funding injection is intended to support a Vogle project which will create jobs and stimulate the local economy.
Mr Morrison said the funding would go to build Vogtle at the same time as building the Adelaide and Perth power stations.
“We’re making sure that we get a strong nuclear investment to the region, to the power stations and to Adelaide, and to Fremantle,” he added.
“These are important investments that will create thousands of jobs and tens of thousands of construction and equipment jobs.”
As I said in Perth, these are great investment opportunities for the people of Fremantle and the people across the region in terms of the jobs that are created.