NSW is undergoing a major energy transition. As energy demand grows and our state’s coal-fired power stations retire, we need to invest in the right infrastructure to meet our needs now and for the future.
The Energy Security Corporation is a state-owned green bank, seed funded with $1 billion to unlock private investment for vital storage and firming projects in NSW. By targeting areas of the market that need extra financial support, it will accelerate the development of renewable energy infrastructure and help NSW deliver more affordable, clean and reliable energy to homes and businesses across the state.
Established in June 2024 under the Energy Security Corporation Act 2024, it is focused on:
Unlocking private investment: The Energy Security Corporation will co-invest with the private sector to help bring commercially viable projects to life.
Fill market gaps: The Energy Security Corporation will help to fund projects that face investment barriers but are essential to the security of NSW’s energy supply.
Strengthening security and reliability: By supporting a range of storage and firming projects, the Energy Security Corporation is helping to build a more resilient, secure and sustainable system to ensure renewable energy is available when it’s needed.
Securing a Net Zero future: The Energy Security Corporation supports NSW in meeting its emission reduction targets under the Climate Change (Net Zero Future) Act 2023
Investment priorities
The Energy Security Corporation’s investment focus areas are informed by its Investment Mandate which is directed by the Minister for Energy.
Priority areas for investment include:
- utility scale storage projects, like pumped hydro and large-scale batteries
- system security and network infrastructure, like synchronous condensers
- community energy generation, storage and end-use equipment, like community batteries and virtual power plants.
The Energy Security Corporation will invest in medium and long duration storage and firming projects. It has the flexibility to invest in debt, equity and concessional finance and will make investments in NSW projects ranging from $25 million to $150 million. Its investment decisions are made by the Energy Security Corporation’s board.
Latest updates
Enquiries
Before contacting the Energy Security Corporation, please read the ESC Act and the Investment Mandate to help you with your enquiry.
Please note, the Corporation is looking at proposals on a case-by-case basis and only considering those that meet criteria outlined in the Investment Mandate.