Iberdrola Australia has been selected as a strategic partner to develop the Victoria to New South Wales Interconnector West (VNI West) transmission project.
This will see Iberdrola take another decisive step in its strategy of investing in electricity grids in markets with stable and attractive regulatory frameworks.
Related article: VNI West costs projected to double to more than $7 billion
VNI West will consist of a 240km, 500kV double-circuit transmission line and is expected to increase bidirectional transfer capacity by up to 3.5GW, unlocking renewable energy generation in Victoria and New South Wales.
During the first phase of the project, Iberdrola will work together with VicGrid, the new transmission network planning body in Victoria, to define the critical elements (engineering design, financial and technical planning, and cost estimation).
Iberdrola will also contribute to strengthening the relationship with local communities and interest groups, and support essential authorisations in terms of the environment, cultural heritage and regulations.
Related article: New CEO for Iberdrola Australia as Ross Rolfe steps down
Once this stage is completed, Iberdrola will submit a proposal for the execution of the project (design and construction), as well as for its ownership and operation. The target construction completion date is 2030.
Iberdrola Australia is one of Australia’s leading renewable operators, with more than 2.3GW of generation capacity in operation or construction and plans to increase it by almost 1GW by 2028 thanks to new renewable and battery storage projects.
