State-owned Energy Security Corporation launches in New South Wales, Australia

July 2, 2025
Facebook
Twitter
LinkedIn
Reddit
Email
The new state-owned entity will invest in large-scale energy storage and renewables in New South Wales. Image: EnergyCo.

A new state-owned green bank, the Energy Security Corporation (ESC), has launched in New South Wales, Australia, with an initial funding allocation of AU$1 billion (US$640 million).

This initiative is designed to accelerate the development of renewable energy infrastructure, with a strong focus on large-scale energy storage and renewable energy projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The ESC operates as a government-backed investor, co-investing alongside private sector partners to address critical gaps in the energy market. By targeting areas that require additional financial support, the ESC seeks to fast-track the state’s energy transition and bolster grid reliability.

Investment Mandate: energy storage and VPPs

As reported by our siter site Energy-Storage.news earlier this year, the ESC will invest in short to long-duration energy storage (LDES) projects as part of its first Investment Mandate.

Specifically, the ESC will accelerate investment in renewable energy assets, including large-scale battery energy storage systems (BESS), community batteriespumped hydro energy storage (PHES), and virtual power plants (VPPs).

The Investment Mandate will also cover projects that upgrade infrastructure to ensure the smooth operation of the grid and support the uptake of consumer energy resources in households, businesses, and the community, such as VPPs.

Government vision for energy security

The New South Wales Minister for Climate Change and Energy, Penny Sharpe, emphasised the importance of the Energy Security Corporation in securing the state’s energy future.

“The corporation will collaborate with the private sector to plug investment gaps, ensuring we keep the lights on and prices down for New South Wales residents and businesses,” Sharpe stated.

The ESC was established under the Energy Security Corporation Act 2024. According to its official website, the organisation will invest between AU$25 million and AU$150 million per project.

The state’s ESC will result in an overall expansion of private sector renewable energy investment in New South Wales, similar to how the Commonwealth’s Clean Energy Finance Corporation (CEFC) has expanded total renewable energy investment across Australia.

To read the full article, please visit our sister site Energy-Storage.news.

Read Next

October 31, 2025
Australia's solar and energy storage sectors delivered transformative performance during the third quarter of 2025, with grid-scale solar generation reaching 1,699MW average output while battery systems expanded capacity by 2,936MW since Q3 2024.
October 27, 2025
Australian solar developer, BNRG Leeson, has submitted plans for a 440MW solar PV facility in Victoria's Campaspe Shire to Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act.
Sponsored
October 23, 2025
Tongwei's rooftop-focused TNC 2.0 G12R-48 module will be among the products on show at All Energy Australia next week.
October 23, 2025
Spanish power electronics specialist Ingeteam has won a contract to supply inverters and control systems for European Energy Australia's 100MW Winton North solar-plus-storage project in northeast Victoria.
October 23, 2025
Queensland's rooftop solar systems have exceeded 5GW of output for the first time, marking a milestone in Australia's solar expansion.
October 22, 2025
The Queensland government has launched the Social Licence in Renewable Energy Toolkit, providing local councils in Australia with resources to navigate renewable energy project engagement and community consultation processes.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany