South Australia reaches a major milestone as the Hydrogen and Renewable Energy Bill passes through both Houses of the State Parliament, positioning the region to harness its abundant wind and solar resources and reaffirming its global leadership in clean energy.
The successful passage of the Bill marks a significant step forward in establishing a pioneering legislative framework to support the transition to renewable energy. Energy and Mining Minister Tom Koutsantonis thanked the SA Best and One Nation crossbench MLCs for supporting the government's efforts to modernise the state's energy laws.
Despite the unanimous support of the Legislative Council, the government expressed disappointment at attempts by the Greens and Liberal opposition to delay the legislation.
The Hydrogen and Renewable Energy Act 2023 represents the nation's first legislative structure tailored to facilitate the growth of the hydrogen and renewable energy sectors. With unprecedented international interest in investing in South Australian renewable energy projects, the new legislation aims to optimise opportunities and streamline regulatory processes.
This legislation will unlock South Australia's extensive pipeline of renewable energy projects, currently estimated at around $21 billion in capital investment, with further growth expected in the future.
The legislation simplifies the regulatory pathway for companies looking to invest in large-scale hydrogen and renewable energy initiatives in South Australia. It consolidates considerations such as land access, environmental impact and native title into a single regulatory framework.
The Act also introduces the concept of release areas, where developers and investors can compete for access to high quality wind and solar resources on state-owned land. This will ensure that projects are selected to meet the social, economic and environmental objectives of the region.
In addition, the Act requires extensive consultation with communities and landowners to ensure that hydrogen and renewable energy projects prioritise responsible development and meet community expectations.
Going forward, the government will work with stakeholders and rights holders to develop accompanying regulations and identify release areas for competitive bidding.