In a sign of the times the NSW Government has rolled out a $32B investment roadmap for 12 GigaWatts of new wind, solar and storage based electricity.
The plan targets new private sector investment in electricity infrastructure by 2030, including the development of renewable energy zones and energy storage projects.
But it’s just another vote for our growing decarbonisation future, one that miners are being urged to support too according to a new Deloitte report released at the Diggers & Dealers 2020 conference in WA last month.
“The Next Great Economic Opportunity for WA: Transitioning to Low-Carbon Mining” makes clear how closely tied decarbonisation now is with mining’s continuing profitability & investment prospects.
“Any new or expanded mining operation being planned in 2020 should look to start its operations fully enabled to become a net zero mine”, the report’s authors said.
Resource & infrastructure financiers are “moving away from twentieth century business models” towards increased investment in clean energy, transport, smart infrastructure and the commodities that would underpin them, Deloitte said.
“Companies taking action to set a strategy for the next 10 years are being rewarded with concessional loans and increasing valuations.”
It’s a message coming from a lot of sources these days, but Deloitte’s voice carries a lot of weight, as the report lays out what miners need to do going forward.
Cheers, John Fennell
Deloitte Report: https://www2.deloitte.com/au/en/pages/energy-and-resources/articles/next-great-economic-opportunity-wa.html
NSW Plan: https://energy.nsw.gov.au/government-and-regulation/electricity-infrastructure-roadmap