Latest news with #REZ
Sky News AU
09-08-2025
- Business
- Sky News AU
Eight-fold renewables blowout in cost of NSW Central West Orana REZ would end careers in any other industry
Five years ago, the then NSW Energy Minister hailed the creation of the first Renewable Energy Zone as a bargain-priced modern-day power station that would shower households with cheaper electricity. Matt Kean revealed that the state government had committed $40 million in seed-funding. "With this funding locked in, we can bring the Central-West Orana REZ from a vision to a reality," he said. Five years later, the upfront cost for NSW taxpayers has risen to $3.6 billion. Not single megawatt of electricity has generated. This week, we learned that the capital cost for new transmission lines has leapt from a modest $650 million to $5.5 billion. It is an expensive lesson in how grand climate gestures can morph into multibillion-dollar obligations that will hang around the necks of taxpayers and consumers for decades. In a perfect world, careers would be ended by this public-policy trainwreck. Bureaucrats and politicians would be held accountable for wasted public money. Yet buck-passing is an art form in the public service, and the NSW minister who instigated the scheme has been promoted to a well-paid job in Canberra, chairing the Climate Change Authority. Central-West Orana was billed as a pilot scheme for the REZ concept. Yet its transparent failures did not deter the NSW government from increasing the number of planned zones from three to five, nor from doubling its planned capacity. The dispiriting reality is that when pilot schemes fail, bureaucrats and politicians are reluctant to admit that the program might be flawed. All that's needed are a few minor tweaks and extra funding to turn them into a roaring success. If Mr Kean's original timetable has been met, the Central-West Orana REZ would be connected to the grid by now via a new 180 km high-voltage transmission line. The earliest forecast completion date is late 2028. Its length has increased to 240 km, and costs are rising. The NSW government has committed $3.2 billion to accelerate the construction of transmission lines. It is spending $115 million to expand marshalling facilities at the Port of Newcastle to handle the shipment of components, including fibreglass, turbine blades that are more than 80m long and weigh around 25 tonnes each. Another $128 million has been allocated to upgrade roads so that the blades can be transported on specialised semi-trailers. Add to that the $128 million allocated to a Community and Employment Benefit Program, and the government's up-front costs are 90 times higher than Mr Keans's "job-done" $40 million in seed funding announced with much fanfare in 2020. The Commonwealth government will contribute $1.2 billion so far from its $20 billion Rewiring the Nation fund. The actual exposure to federal taxpayers from the Central-West Orana REZ is incalculable, as much of the assistance will come from the Capacity Investment Scheme, which underwrites the return to renewable energy companies for the life of the project. Financing arrangements at the state and federal levels are complicated. Most of the NSW government's commitment will be off-budget through a special purpose financing arrangement supporting the Spanish-led private consortium responsible for building and operating the transmission line and associated facilities. Its reward is a guaranteed income stream for 35 years. The Electricity Infrastructure Investment Act passed in 2020 stipulates that these costs will be passed on to consumers. How much it will add to electricity bills is impossible to say, as the multiple layers of implicit and explicit subsidies from two tiers of government are complicated and opaque. The bottom line, highlighted by the Productivity Commission this week, is that reducing emissions from greenhouse gases comes with costs. Quite how significant those costs might be, the Commission doesn't begin to guess in its interim report into the cost of so-called clean energy released this week. Leaving aside the question of whether Net Zero targets are a good idea, the government has a responsibility to taxpayers and consumers to ensure emissions are abated at the least cost. It says that minimising the cost of meeting Australia's emissions targets will free resources for "more productive activities". The Commission urges the government to pay urgent attention to developing "more consistent and comprehensive incentives to reduce emissions'. That will require phasing out state-based and technology-specific measures over time. For years, state and federal leaders have been trying to sell the monstrous lie that wind and solar energy is virtually free. Yet every single layer of government intervention adds further expense. Governments rarely structure these measures particularly efficiently and seldom attempt to compare benefits with costs. Preventing a tonne of COâ‚‚ entering the atmosphere by granting FBT exemptions and rebates on electric vehicles, for example, can cost up to $20,000, the Commission says. A more efficient scheme can prevent the same amount of emissions for $100. The report makes a nonsense of Mr Kean's assertion five years ago that the complex system of subsidies the NSW government was putting in place would "save households an average of around $130 per year and small businesses around $430 per year". In a November 2020 speech introducing the Electricity Infrastructure Investment Bill, the then Minister for Energy and Environment said would deliver "some of the cheapest electricity prices for industry in the entire OECD". For the record, the retail cost of electricity in Sydney has increased by 19.6 per cent over the last five years, according to the Australian Bureau of Statistics. Australian consumers pay the 15th highest price of the 38 countries in the OECD. The premium to cover the capital cost of schemes like Mr Kean's Central West Orana REZ will burden consumers way beyond 2050. The Federal Government's unfunded liability through the Capacity Investment Scheme and other poorly designed incentives is uncapped. Australia's future fiscal stability is at the mercy of wholesale power prices which are notoriously fickle Australians will be paying for this ruinous folly for generations to come. Nick Cater is a senior fellow at Menzies Research Centre and a regular contributor to Sky News Australia
The Advertiser
17-07-2025
- Business
- The Advertiser
Construction of Australia's sustainable future goes beyond just renewables
Australia's clean energy transition is accelerating, and the construction sector is central to making it happen. As renewable energy generation and storage projects ramp up, so too does construction of the infrastructure required to deliver them, marking a clear shift from the decade-long focus on road and rail infrastructure projects. According to the 2024 Clean Energy Australia Report, 22 large-scale renewable energy projects were completed in 2023 alone, adding 2.8GW of capacity. That same year, investment in large-scale storage soared to $4.9 billion - a $3 billion increase from the previous year. The pipeline of current and future activity requires significant input from the construction sector, not only to build the renewable infrastructure itself, but also to support the associated needs - housing, roads and services - particularly in the regions. Historically, overseas contractors have played a major role in renewable infrastructure projects, but top-tier Australian construction companies are expanding their capacity to enter this space. Much of this growth is in the Eastern states - NSW, Victoria and Queensland - and particularly in regional areas. Major contractors capable of supporting safe, efficient and sustainable construction in Renewable Energy Zones (REZ), along with their suppliers, are well-placed to lead these massive projects. Designated by the NSW government, REZs are home to clusters of large-scale renewable energy projects. There are five REZs around the state, and they act as modern-day power stations, combining renewable energy infrastructure, storage and high voltage transmission infrastructure. Take the New England Solar Farm, near Uralla, for example. Located in the New England REZ, this 720MW solar and battery project will produce enough renewable energy to power 300,000 homes each year. A job like this doesn't just require a lift-and-shift approach to installing the infrastructure; it requires storage, transport, waste disposal and much more. At the peak of its construction, it's estimated there will be 450 jobs added, and while much of this will be made up of a regional workforce, there will still be a need for workers to travel to the region from outside the area. This brings up the issue of regional accommodation, which is a significant challenge for major developments. The NSW government's Regional Housing Taskforce discovered that regional NSW has faced significant housing supply and affordability pressures since the COVID-19 pandemic. Many regional towns, particularly in NSW, are facing high demand for accommodation that does not currently exist. Although there are generally new housing developments on the way in regional areas, these will take many years, often more than a decade, before they are completed and occupied. Major infrastructure endeavours, such as large-scale renewable energy projects, need short-term accommodation solutions for workers now. Regional renewable energy infrastructure projects do more than build services that help major cities. They create a new industry for rural and remote areas and bring immense value to the surrounding towns. For example, through the New England Solar Farm, renewable energy developer ACEN Australia is providing $7 million in community funding via its Social Investment Program (SIP) to help support thriving and resilient regional communities. During construction alone, the hundreds of workers at any site will access nearby towns and businesses, spending their money in the local economy. Once a project is complete, a long-term workforce can be built, with skilled job opportunities, which in turn encourages workers and their families to move to the regions. This grows that area, bringing in further benefits. Increased population and a solid local economy in regional towns drive further investment in infrastructure such as transport, education and health, while also encouraging some larger external businesses to set up new locations. Investing in renewable energy infrastructure is vital for a sustainable and prosperous future, but we must also invest in the right infrastructure to support the communities responsible for rolling it out. Australia's clean energy transition is accelerating, and the construction sector is central to making it happen. As renewable energy generation and storage projects ramp up, so too does construction of the infrastructure required to deliver them, marking a clear shift from the decade-long focus on road and rail infrastructure projects. According to the 2024 Clean Energy Australia Report, 22 large-scale renewable energy projects were completed in 2023 alone, adding 2.8GW of capacity. That same year, investment in large-scale storage soared to $4.9 billion - a $3 billion increase from the previous year. The pipeline of current and future activity requires significant input from the construction sector, not only to build the renewable infrastructure itself, but also to support the associated needs - housing, roads and services - particularly in the regions. Historically, overseas contractors have played a major role in renewable infrastructure projects, but top-tier Australian construction companies are expanding their capacity to enter this space. Much of this growth is in the Eastern states - NSW, Victoria and Queensland - and particularly in regional areas. Major contractors capable of supporting safe, efficient and sustainable construction in Renewable Energy Zones (REZ), along with their suppliers, are well-placed to lead these massive projects. Designated by the NSW government, REZs are home to clusters of large-scale renewable energy projects. There are five REZs around the state, and they act as modern-day power stations, combining renewable energy infrastructure, storage and high voltage transmission infrastructure. Take the New England Solar Farm, near Uralla, for example. Located in the New England REZ, this 720MW solar and battery project will produce enough renewable energy to power 300,000 homes each year. A job like this doesn't just require a lift-and-shift approach to installing the infrastructure; it requires storage, transport, waste disposal and much more. At the peak of its construction, it's estimated there will be 450 jobs added, and while much of this will be made up of a regional workforce, there will still be a need for workers to travel to the region from outside the area. This brings up the issue of regional accommodation, which is a significant challenge for major developments. The NSW government's Regional Housing Taskforce discovered that regional NSW has faced significant housing supply and affordability pressures since the COVID-19 pandemic. Many regional towns, particularly in NSW, are facing high demand for accommodation that does not currently exist. Although there are generally new housing developments on the way in regional areas, these will take many years, often more than a decade, before they are completed and occupied. Major infrastructure endeavours, such as large-scale renewable energy projects, need short-term accommodation solutions for workers now. Regional renewable energy infrastructure projects do more than build services that help major cities. They create a new industry for rural and remote areas and bring immense value to the surrounding towns. For example, through the New England Solar Farm, renewable energy developer ACEN Australia is providing $7 million in community funding via its Social Investment Program (SIP) to help support thriving and resilient regional communities. During construction alone, the hundreds of workers at any site will access nearby towns and businesses, spending their money in the local economy. Once a project is complete, a long-term workforce can be built, with skilled job opportunities, which in turn encourages workers and their families to move to the regions. This grows that area, bringing in further benefits. Increased population and a solid local economy in regional towns drive further investment in infrastructure such as transport, education and health, while also encouraging some larger external businesses to set up new locations. Investing in renewable energy infrastructure is vital for a sustainable and prosperous future, but we must also invest in the right infrastructure to support the communities responsible for rolling it out. Australia's clean energy transition is accelerating, and the construction sector is central to making it happen. As renewable energy generation and storage projects ramp up, so too does construction of the infrastructure required to deliver them, marking a clear shift from the decade-long focus on road and rail infrastructure projects. According to the 2024 Clean Energy Australia Report, 22 large-scale renewable energy projects were completed in 2023 alone, adding 2.8GW of capacity. That same year, investment in large-scale storage soared to $4.9 billion - a $3 billion increase from the previous year. The pipeline of current and future activity requires significant input from the construction sector, not only to build the renewable infrastructure itself, but also to support the associated needs - housing, roads and services - particularly in the regions. Historically, overseas contractors have played a major role in renewable infrastructure projects, but top-tier Australian construction companies are expanding their capacity to enter this space. Much of this growth is in the Eastern states - NSW, Victoria and Queensland - and particularly in regional areas. Major contractors capable of supporting safe, efficient and sustainable construction in Renewable Energy Zones (REZ), along with their suppliers, are well-placed to lead these massive projects. Designated by the NSW government, REZs are home to clusters of large-scale renewable energy projects. There are five REZs around the state, and they act as modern-day power stations, combining renewable energy infrastructure, storage and high voltage transmission infrastructure. Take the New England Solar Farm, near Uralla, for example. Located in the New England REZ, this 720MW solar and battery project will produce enough renewable energy to power 300,000 homes each year. A job like this doesn't just require a lift-and-shift approach to installing the infrastructure; it requires storage, transport, waste disposal and much more. At the peak of its construction, it's estimated there will be 450 jobs added, and while much of this will be made up of a regional workforce, there will still be a need for workers to travel to the region from outside the area. This brings up the issue of regional accommodation, which is a significant challenge for major developments. The NSW government's Regional Housing Taskforce discovered that regional NSW has faced significant housing supply and affordability pressures since the COVID-19 pandemic. Many regional towns, particularly in NSW, are facing high demand for accommodation that does not currently exist. Although there are generally new housing developments on the way in regional areas, these will take many years, often more than a decade, before they are completed and occupied. Major infrastructure endeavours, such as large-scale renewable energy projects, need short-term accommodation solutions for workers now. Regional renewable energy infrastructure projects do more than build services that help major cities. They create a new industry for rural and remote areas and bring immense value to the surrounding towns. For example, through the New England Solar Farm, renewable energy developer ACEN Australia is providing $7 million in community funding via its Social Investment Program (SIP) to help support thriving and resilient regional communities. During construction alone, the hundreds of workers at any site will access nearby towns and businesses, spending their money in the local economy. Once a project is complete, a long-term workforce can be built, with skilled job opportunities, which in turn encourages workers and their families to move to the regions. This grows that area, bringing in further benefits. Increased population and a solid local economy in regional towns drive further investment in infrastructure such as transport, education and health, while also encouraging some larger external businesses to set up new locations. Investing in renewable energy infrastructure is vital for a sustainable and prosperous future, but we must also invest in the right infrastructure to support the communities responsible for rolling it out. Australia's clean energy transition is accelerating, and the construction sector is central to making it happen. As renewable energy generation and storage projects ramp up, so too does construction of the infrastructure required to deliver them, marking a clear shift from the decade-long focus on road and rail infrastructure projects. According to the 2024 Clean Energy Australia Report, 22 large-scale renewable energy projects were completed in 2023 alone, adding 2.8GW of capacity. That same year, investment in large-scale storage soared to $4.9 billion - a $3 billion increase from the previous year. The pipeline of current and future activity requires significant input from the construction sector, not only to build the renewable infrastructure itself, but also to support the associated needs - housing, roads and services - particularly in the regions. Historically, overseas contractors have played a major role in renewable infrastructure projects, but top-tier Australian construction companies are expanding their capacity to enter this space. Much of this growth is in the Eastern states - NSW, Victoria and Queensland - and particularly in regional areas. Major contractors capable of supporting safe, efficient and sustainable construction in Renewable Energy Zones (REZ), along with their suppliers, are well-placed to lead these massive projects. Designated by the NSW government, REZs are home to clusters of large-scale renewable energy projects. There are five REZs around the state, and they act as modern-day power stations, combining renewable energy infrastructure, storage and high voltage transmission infrastructure. Take the New England Solar Farm, near Uralla, for example. Located in the New England REZ, this 720MW solar and battery project will produce enough renewable energy to power 300,000 homes each year. A job like this doesn't just require a lift-and-shift approach to installing the infrastructure; it requires storage, transport, waste disposal and much more. At the peak of its construction, it's estimated there will be 450 jobs added, and while much of this will be made up of a regional workforce, there will still be a need for workers to travel to the region from outside the area. This brings up the issue of regional accommodation, which is a significant challenge for major developments. The NSW government's Regional Housing Taskforce discovered that regional NSW has faced significant housing supply and affordability pressures since the COVID-19 pandemic. Many regional towns, particularly in NSW, are facing high demand for accommodation that does not currently exist. Although there are generally new housing developments on the way in regional areas, these will take many years, often more than a decade, before they are completed and occupied. Major infrastructure endeavours, such as large-scale renewable energy projects, need short-term accommodation solutions for workers now. Regional renewable energy infrastructure projects do more than build services that help major cities. They create a new industry for rural and remote areas and bring immense value to the surrounding towns. For example, through the New England Solar Farm, renewable energy developer ACEN Australia is providing $7 million in community funding via its Social Investment Program (SIP) to help support thriving and resilient regional communities. During construction alone, the hundreds of workers at any site will access nearby towns and businesses, spending their money in the local economy. Once a project is complete, a long-term workforce can be built, with skilled job opportunities, which in turn encourages workers and their families to move to the regions. This grows that area, bringing in further benefits. Increased population and a solid local economy in regional towns drive further investment in infrastructure such as transport, education and health, while also encouraging some larger external businesses to set up new locations. Investing in renewable energy infrastructure is vital for a sustainable and prosperous future, but we must also invest in the right infrastructure to support the communities responsible for rolling it out.
The Advertiser
26-06-2025
- Business
- The Advertiser
Donga City: Muswellbrook sets the standard for temporary accommodation
Muswellbrook Council has moved to head off the potential negative impacts from an influx of thousands of temporary workers who are due to descend on the shire in the near future. The council estimates that more than 4500 workers will move into the area in the next five years to work on projects including the Hunter-Central Coast Renewable Energy Zone construction, the New England Highway bypass construction and power station decommissioning. Councillors voted this week to prepare a temporary workforce accommodation policy, which aims to set the standard for NSW. The policy mandates that any workforce accommodation proposal in the shire must be near or within towns and villages, not remote rural sites. It must also support legacy uses such as aged care, tourism or housing and use local suppliers, services and medical providers wherever possible. So-called 'wet mess' facilities for alcohol consumption must be avoided and workers should be integrated into the surrounding community. Mayor Jeff Drayton said the policy reflected growing frustration with the state government and its agency EnergyCo. He cited years of poor consultation and short-term thinking in relation to plans for isolated 'donga' accommodation for construction workers brought in to upgrade energy infrastructure. "Worker accommodation that improves our shire is a major priority for council and that's reflected by councillors endorsing this policy. We're ahead of the pack because we've had to be. We're dealing with multiple major projects, almost weekly," Cr Drayton said. "We've been communicating this for years and we're sick of being sidelined. We're not copping substandard camps on the outskirts of town - this policy promotes genuine investment in our community. If new technology and investment is going to work, it needs to work for the people who already live in Muswellbrook Shire." An EnergyCo spokeswoman said the agency was proposing temporary accommodation to meet short-term construction needs and reduce pressure on the local rental market, helping to safeguard permanent housing for essential workers and residents. "The current site was selected to reduce the need for long-distance travel and to help minimise traffic congestion. We will continue to work with the council on this and explore opportunities for long-lasting infrastructure benefits," she said. Hundreds of workers are presently being recruited to work on the construction of the multi-billion-dollar Central-West Orana Renewable Energy Zone (REZ), the first project of its kind in Australia. Construction of the project began in April. It will deliver at least 4.5 gigawatts of new network capacity by 2028, to connect 7.7 gigawatts of wind and solar projects, which is enough to power more than 2 million homes each year. Muswellbrook Council's policy will now go on public exhibition for 28 days before being finalised into policy. The council's adoption of the framework follows its similar endorsement of a policy to prevent solar panels from an approved 135-megawatt solar project in the Shire from going into landfill. Muswellbrook Council has moved to head off the potential negative impacts from an influx of thousands of temporary workers who are due to descend on the shire in the near future. The council estimates that more than 4500 workers will move into the area in the next five years to work on projects including the Hunter-Central Coast Renewable Energy Zone construction, the New England Highway bypass construction and power station decommissioning. Councillors voted this week to prepare a temporary workforce accommodation policy, which aims to set the standard for NSW. The policy mandates that any workforce accommodation proposal in the shire must be near or within towns and villages, not remote rural sites. It must also support legacy uses such as aged care, tourism or housing and use local suppliers, services and medical providers wherever possible. So-called 'wet mess' facilities for alcohol consumption must be avoided and workers should be integrated into the surrounding community. Mayor Jeff Drayton said the policy reflected growing frustration with the state government and its agency EnergyCo. He cited years of poor consultation and short-term thinking in relation to plans for isolated 'donga' accommodation for construction workers brought in to upgrade energy infrastructure. "Worker accommodation that improves our shire is a major priority for council and that's reflected by councillors endorsing this policy. We're ahead of the pack because we've had to be. We're dealing with multiple major projects, almost weekly," Cr Drayton said. "We've been communicating this for years and we're sick of being sidelined. We're not copping substandard camps on the outskirts of town - this policy promotes genuine investment in our community. If new technology and investment is going to work, it needs to work for the people who already live in Muswellbrook Shire." An EnergyCo spokeswoman said the agency was proposing temporary accommodation to meet short-term construction needs and reduce pressure on the local rental market, helping to safeguard permanent housing for essential workers and residents. "The current site was selected to reduce the need for long-distance travel and to help minimise traffic congestion. We will continue to work with the council on this and explore opportunities for long-lasting infrastructure benefits," she said. Hundreds of workers are presently being recruited to work on the construction of the multi-billion-dollar Central-West Orana Renewable Energy Zone (REZ), the first project of its kind in Australia. Construction of the project began in April. It will deliver at least 4.5 gigawatts of new network capacity by 2028, to connect 7.7 gigawatts of wind and solar projects, which is enough to power more than 2 million homes each year. Muswellbrook Council's policy will now go on public exhibition for 28 days before being finalised into policy. The council's adoption of the framework follows its similar endorsement of a policy to prevent solar panels from an approved 135-megawatt solar project in the Shire from going into landfill. Muswellbrook Council has moved to head off the potential negative impacts from an influx of thousands of temporary workers who are due to descend on the shire in the near future. The council estimates that more than 4500 workers will move into the area in the next five years to work on projects including the Hunter-Central Coast Renewable Energy Zone construction, the New England Highway bypass construction and power station decommissioning. Councillors voted this week to prepare a temporary workforce accommodation policy, which aims to set the standard for NSW. The policy mandates that any workforce accommodation proposal in the shire must be near or within towns and villages, not remote rural sites. It must also support legacy uses such as aged care, tourism or housing and use local suppliers, services and medical providers wherever possible. So-called 'wet mess' facilities for alcohol consumption must be avoided and workers should be integrated into the surrounding community. Mayor Jeff Drayton said the policy reflected growing frustration with the state government and its agency EnergyCo. He cited years of poor consultation and short-term thinking in relation to plans for isolated 'donga' accommodation for construction workers brought in to upgrade energy infrastructure. "Worker accommodation that improves our shire is a major priority for council and that's reflected by councillors endorsing this policy. We're ahead of the pack because we've had to be. We're dealing with multiple major projects, almost weekly," Cr Drayton said. "We've been communicating this for years and we're sick of being sidelined. We're not copping substandard camps on the outskirts of town - this policy promotes genuine investment in our community. If new technology and investment is going to work, it needs to work for the people who already live in Muswellbrook Shire." An EnergyCo spokeswoman said the agency was proposing temporary accommodation to meet short-term construction needs and reduce pressure on the local rental market, helping to safeguard permanent housing for essential workers and residents. "The current site was selected to reduce the need for long-distance travel and to help minimise traffic congestion. We will continue to work with the council on this and explore opportunities for long-lasting infrastructure benefits," she said. Hundreds of workers are presently being recruited to work on the construction of the multi-billion-dollar Central-West Orana Renewable Energy Zone (REZ), the first project of its kind in Australia. Construction of the project began in April. It will deliver at least 4.5 gigawatts of new network capacity by 2028, to connect 7.7 gigawatts of wind and solar projects, which is enough to power more than 2 million homes each year. Muswellbrook Council's policy will now go on public exhibition for 28 days before being finalised into policy. The council's adoption of the framework follows its similar endorsement of a policy to prevent solar panels from an approved 135-megawatt solar project in the Shire from going into landfill. Muswellbrook Council has moved to head off the potential negative impacts from an influx of thousands of temporary workers who are due to descend on the shire in the near future. The council estimates that more than 4500 workers will move into the area in the next five years to work on projects including the Hunter-Central Coast Renewable Energy Zone construction, the New England Highway bypass construction and power station decommissioning. Councillors voted this week to prepare a temporary workforce accommodation policy, which aims to set the standard for NSW. The policy mandates that any workforce accommodation proposal in the shire must be near or within towns and villages, not remote rural sites. It must also support legacy uses such as aged care, tourism or housing and use local suppliers, services and medical providers wherever possible. So-called 'wet mess' facilities for alcohol consumption must be avoided and workers should be integrated into the surrounding community. Mayor Jeff Drayton said the policy reflected growing frustration with the state government and its agency EnergyCo. He cited years of poor consultation and short-term thinking in relation to plans for isolated 'donga' accommodation for construction workers brought in to upgrade energy infrastructure. "Worker accommodation that improves our shire is a major priority for council and that's reflected by councillors endorsing this policy. We're ahead of the pack because we've had to be. We're dealing with multiple major projects, almost weekly," Cr Drayton said. "We've been communicating this for years and we're sick of being sidelined. We're not copping substandard camps on the outskirts of town - this policy promotes genuine investment in our community. If new technology and investment is going to work, it needs to work for the people who already live in Muswellbrook Shire." An EnergyCo spokeswoman said the agency was proposing temporary accommodation to meet short-term construction needs and reduce pressure on the local rental market, helping to safeguard permanent housing for essential workers and residents. "The current site was selected to reduce the need for long-distance travel and to help minimise traffic congestion. We will continue to work with the council on this and explore opportunities for long-lasting infrastructure benefits," she said. Hundreds of workers are presently being recruited to work on the construction of the multi-billion-dollar Central-West Orana Renewable Energy Zone (REZ), the first project of its kind in Australia. Construction of the project began in April. It will deliver at least 4.5 gigawatts of new network capacity by 2028, to connect 7.7 gigawatts of wind and solar projects, which is enough to power more than 2 million homes each year. Muswellbrook Council's policy will now go on public exhibition for 28 days before being finalised into policy. The council's adoption of the framework follows its similar endorsement of a policy to prevent solar panels from an approved 135-megawatt solar project in the Shire from going into landfill.
Yahoo
25-06-2025
- Business
- Yahoo
How Is Camden Property Trust's Stock Performance Compared to Other REIT - Residential Stocks?
Houston, Texas-based Camden Property Trust (CPT) is a real estate investment trust (REIT) primarily engaged in the ownership, management, development, repositioning, redevelopment, acquisition, and construction of multifamily apartment communities. With a market cap of $12.3 billion, it owns and operates approximately 176 properties containing over 59,647 apartment homes across the United States. Companies worth $10 billion or more are generally described as 'large-cap' stocks, and Camden Property Trust fits this criterion perfectly. The company operates a portfolio of high-quality apartment properties across major U.S. markets, with a focus on the Sunbelt region. Super Micro Computer Just Struck a Deal with Ericsson. Should You Buy SMCI Stock Here? CEO Jensen Huang Just Sold Nvidia Stock. Should You? Broadcom Just Got a New Street-High Price Target. Should You Buy AVGO Stock Here? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Shares of Camden Property Trust have declined 9.5% from its 52-week high of $127.69. CPT stock has dropped 5% over the past three months, a steeper decline than the iShares Residential and Multisector Real Estate ETF's (REZ) 2.9% decrease. Longer term, shares of CPT have decreased marginally on a YTD basis, underperforming REZ's 2.3% uptick over the same time frame. Moreover, Camden Property Trust's stock has risen 4% over the past 52 weeks, compared to REZ's 7.5% gain. Despite some fluctuations, the stock has been trading below its 50-day and 200-day moving averages since early April. However, the stock has risen above its 50-day moving average since May. Camden Property Trust's stock surged 5.3% following the release of its solid Q1 2025 results on May 1. Quarterly operating revenue rose 1.9% from the year-ago quarter to $390.6 million, exceeding Street forecasts. The same-property occupancy improved to 95.4%, up 40 basis points (bps) from the prior year quarter. Its core FFO grew 1.2% year-over-year to $1.72 per share, also topping the consensus estimate by 2.4%. Looking ahead, the company raised its full-year 2025 guidance, now expecting core FFO per share in the range of $6.63 to $6.93, up from the previous outlook of $6.60 to $6.90, further boosting investor confidence. Compared to its rival, Essex Property Trust, Inc. (ESS) has underperformed the CPT stock over the past 52 weeks, gaining 2.5%. Nevertheless, shares of ESS have increased marginally on a YTD basis, slightly outpacing CPT stock. While CPT has underperformed, analysts are moderately optimistic about its prospects. The stock has a consensus rating of 'Moderate Buy' from the 26 analysts covering the stock. As of writing, the stock is trading below the mean price target of $129.77. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Time of India
10-06-2025
- Business
- Time of India
L&T bags major grid infrastructure orders in India and Middle East
Larsen and Toubro 's (L&T) Power Transmission & Distribution (PT&D) on Tuesday announced that it has secured major new grid infrastructure orders in India and abroad. According to the company's project classification, the order ranges between ₹5,000 to 10,000 crore. In India, the company has bagged contracts to build 765kV and 400kV transmission lines, which are vital for the integration of a Renewable Energy Zone (REZ) located in Andhra Pradesh Expanding its international footprint, L&T's PT&D business has also secured orders in the Middle East. The scope of these orders includes the execution of a set of 220kV and 132kV Gas Insulated Substations (GIS) on a turnkey basis. Larsen & Toubro's PT&D business is a key player in the global energy infrastructure sector, offering a comprehensive range of integrated solutions from design and manufacturing to supply, construction, and commissioning of high-voltage transmission lines, substations, and distribution projects. They are also active in industrial project electrification, instrumentation, and control systems.
