June 16, 2026 — 5:00am
The state government’s $1 billion renewables fund has chosen its first project, investing $100 million in battery projects in Newcastle and Homebush.
The Energy Security Corporation (ESC) was created to fill the gap where the private sector was reluctant to invest in renewables projects. The fund offers investments between $25 million and $150 million, prioritising short- and long-term energy storage projects to capture excess solar and wind power.
The first investment comes almost a year after the appointment of the board, and two years after the government introduced legislation to create the agency.
Construction on the first battery at the Steel River Industrial Estate in Newcastle will begin work next month, with another in Homebush to follow. Ausgrid Group entity PLUS Grid Storage is delivering the projects, with two more still in the planning stage.
