Minister Chris Bowen’s speech at the AFR Energy Summit focused on Australia’s remarkable strides toward renewable energy, while acknowledging the challenges and the work still ahead.
Bowen began by emphasising the importance of integrating First Nations communities into Australia’s energy transition. The aim is to shift from managing welfare to managing wealth by increasing Indigenous ownership in renewable energy projects. While only a small fraction of these projects currently involve Indigenous participation, the government is determined to change this and is set to release a First Nations Clean Energy Strategy soon.
Contrary to some negative headlines, the transition to renewable energy is not slowing down. Bowen highlighted the milestones:
The renewable energy sector is seeing strong market interest, with the government receiving 32 times more bids for renewable projects than expected in recent tenders. Bowen announced an expansion of the next tender round, increasing it to 10 gigawatts of new energy by 2029. This high level of investment interest proves that there is a strong pipeline of renewable projects ready for action.
However, a key challenge remains: building and upgrading transmission lines to carry renewable energy to where it’s needed. Australia needs to construct 5,000 km of new transmission lines by 2030, with about a quarter of that already under construction. Bowen stressed the importance of speeding up approvals and addressing planning obstacles to ensure that new energy projects are delivered on time.
The minister also addressed political challenges, warning that any delay in the transition could lead to increased energy unreliability. With aging coal-fired power stations experiencing regular outages, the risks of over-reliance on coal are growing. Bowen strongly rejected calls to slow the transition or shift focus to nuclear energy, stating that this would result in delays and blackouts.
The message was clear: the renewable energy transformation is not only necessary but inevitable. The government is committed to pushing forward, expanding projects, and ensuring that Australia reaps the benefits of a cleaner, more reliable energy future.
