The New England Renewable Energy Zone has been a magnet for investors who have proposed to build 34 gigawatts of renewable energy, more than four times what was originally proposed for the project.
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The REZ, which adjoins the Hunter REZ, is expected to deliver about $10.7 billion in investment, about 830 operational jobs and 1250 construction jobs each year.
The project also aims to put downward pressure on electricity prices and providing landowners with new income streams.
"The overwhelming response shows this is a once-in-a-generation opportunity to attract enormous investment into regional areas, cementing NSW's renewable energy future," NSW Energy Minister Matt Kean said.
The Hunter Region was declared a REZ late last year as part of the government's renewable energy infrastructure roadmap.
The roadmap, which was allocated $380 million in the 2020-21 budget, aims to encourage $32 billion worth of private spending on renewable technology over 20 years, with incentives for businesses to set up in the zones.
The Hunter's highly skilled workforce, proximity to major power transmission infrastructure and portfolio of existing and potential renewable projects make it a logical REZ.
Support for the zone is also gaining momentum among investors who are keen to build a range of renewable energy projects ranging from wind and solar to batteries and pumped hydro.
The state government has already committed $79 million to develop the New England REZ.
Member for Northern Tablelands Adam Marshall said the overwhelming response to the project put the local community in the box seat when it came to the zone's final design and planning.
"With this level of interest, we have the luxury of supporting only the best projects that benefit the community, maintain the highest and strictest development standards and maximise local renewable jobs and investment in the region," he said.
"By co-ordinating REZ development in a strategic way, we can control our own destiny, making sure the projects we host work for our community, not just developers."
Matthew Kelly
Matthew Kelly has worked as a journalist for more than 25 years. He has been working as a general reporter at the Newcastle Herald since 2018. In recent years he has reported on subjects including environment, energy, water security, manufacturing and higher education. He has previously covered issues including the health and environmental impacts of uncovered coal wagons in the Hunter Valley, the pollution of legacy of former industrial sites and freedom of information issues.
Matthew Kelly has worked as a journalist for more than 25 years. He has been working as a general reporter at the Newcastle Herald since 2018. In recent years he has reported on subjects including environment, energy, water security, manufacturing and higher education. He has previously covered issues including the health and environmental impacts of uncovered coal wagons in the Hunter Valley, the pollution of legacy of former industrial sites and freedom of information issues.
