South Australia’s $1 Billion Energy Deal Builds on Gas-Fired Recovery

South Australia’s $1 Billion Energy Deal Builds on Gas-Fired Recovery
Prime Minister Scott Morrison speaks at a press conference in Sydney, Australia on Jan. 31, 2020. Morrison and NSW Premier Gladys Berejiklian are set to unveil a new multibillion-dollar fund to open up gas for the domestic market and to fund emissions reduction projects. AAP Image/Bianca De Marchi
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The South Australian and Federal governments have signed an AU$1.08 billion (US$834 million) agreement to provide South Australians with reliable and affordable energy while maintaining emission reduction targets.

The deal involves a $100 million energy grid interconnector between South Australia and New South Wales and an investment of $510 million for emissions reduction projects such as carbon capture and storage, hydrogen, solar thermal, and electric vehicles.