New South Wales is a thriving innovation centre for renewable energy and cleantech companies.
With an estimated growth rate of 35% a year, the renewable energy industry in New South Wales attracts billions in investment and is set to become the leading state for clean energy production, decarbonisation and halving emissions by 2030 through the NSW Hydrogen Strategy.
Supporting sustainable industries
The creation of the Parkes Precinct UNIDO Eco-Industrial Park in central New South Wales is a cornerstone project expected to provide suppliers access to 80% of Australia’s markets and create up to 3,000 jobs across a range of industries, including renewable energy.
NSW boasts centres of excellence, precincts, programs and incubators, including:
- EnergyLab: A Sydney-based acceleration program designed specifically to support clean energy startups. Successful companies receive financial support, assistance raising further capital, and a whole lot more.
- Tech Central: Under development, Tech Central will be a vibrant innovation and technology precinct and a focal point of Sydney's tech community.
- Sydney Startup Hub: The first of its kind in Australia, housing almost 500 companies, and generating more than A$280 million in investment with plans to expand.
New South Wales also has the largest pool of skilled ICT workers in Australia and is home to 2 of Australia’s top 5 highest ranked research universities. Drawing on these resources, you’ll be able to cement your own vision, partner with local businesses, and get access to leading edge thinkers and researchers.
“NSW was one of the first jurisdictions in the world to set a net zero objective, but we must get there in a way that grows the economy, makes our businesses and industry more competitive and puts us ahead of the pack in the low carbon global economy,” Matt Kean, NSW Minister for Energy and the Environment.
Incentives, grants and support
- The Renewable Energy Sector Board is designed to boost opportunities for local jobs and industry – particularly in the regions.
- The Net Zero Industry and Innovation Program is an unparalleled A$750 million NSW Government initiative focused on co-investing with industry to reduce carbon emissions and develop low emissions technology.
- The Electricity Infrastructure Roadmap is expected to plan the pathway to generating up to A$32 billion in private investment for regional energy infrastructure (by 2030).
Job creation incentives provide an opportunity for funding in the sector, such as the A$250 million Jobs Plus program.
For support with market entry, opportunities and growth, business connections and more:
- Investment NSW provides connections to global export markets to drive local and international investment and create jobs for NSW.
- The Business Connect program supports startups in phase one growth.
Case studies
Clean energy producer Neoen became an early leader, building solar power plants in New South Wales in 2012. A$500 million in investments and 7 years later, the company has successfully built five solar farms – one of which is the largest in Australia.
Signal Energy is a recent entrant to the Australian renewable energy market. The company is a leading contractor for utility-scale renewable energy projects and has built large-scale solar and wind farms across the US and Canada. They now enjoy success in Sydney.