The Electricity Retailers' Association of New Zealand welcomes 22 renewable electricity projects in Schedule 2A of the Fast-track Approvals Bill.

These projects will help New Zealand increase electricity generation and secure a supply of renewable energy sources to power Kiwi homes, businesses, and transportation infrastructure.

Chief Executive Bridget Abernethy says streamlining consenting processes for these renewable energy projects will allow new and existing generators to accelerate the transition to a renewable, low-carbon, and resilient energy system.

"Realising New Zealand's renewable future requires significant investment in renewable generation, flexible generation, transmission infrastructure, and distribution infrastructure over the next 26 years. The streamlined consenting process facilitated by the Fast-track Approvals Bill will enable the sector to move faster on these investments.”

Abernethy says ERANZ members will be catalysts in supporting New Zealand’s climate change goals by moving to a net zero-carbon economy.

“Gentailers earnings are being ploughed back into developments to make that happen –more than $6 billion will be invested in renewable generation in the next six years.

“We’ve made significant progress in bringing new renewable generation online. Around half of the 5000 GWh predicted in the 2023 investment pipeline update by Concept Consulting should be operational later this year.”

Abernethy also says the Fast-track Approvals Bill will enable generators to bring their investment pipelines to market faster and expects ERANZ members will access the expedited approval process to propose further projects once the legislation is in place.

"Knowing that generators have the option to fast-track new renewables projects will help provide confidence to build and deliver affordable clean electricity for our low-emissions future."

© Scoop Media