The NSW Government’s Investment Delivery Authority (IDA) will run a targeted Expression of Interest (EOI) round calling for major projects that safeguard the State against future global fuel supply shocks, the NSW Government has announced.
The targeted IDA round will focus on commercial-scale projects valued at $100 million or more that would directly improve fuel security, including:
- fuel storage and distribution infrastructure;
- domestic, import‑independent liquid fuel production, focused on renewable fuels and their feedstocks such as sustainable aviation fuel, renewable diesel, biodiesel, biomethane and green ammonia;
- heavy electric vehicle charging hubs and fleets, to reduce reliance on diesel over time.
The IDA will use its existing operating model to help remove delivery barriers, coordinate engagement across government and support endorsed projects to progress more quickly, said Treasurer, Daniel Mookhey.
“Strengthening fuel security isn’t just an energy issue, it’s a cost‑of‑living issue for households and businesses across the state,” he said.
“This is about making sure NSW is better prepared, better protected and better positioned to deal with global shocks, while keeping our economy and essential services moving.”
Alongside the EOI round, the NSW Government will run a Market Sounding process to help understand what’s needed to unlock future investment related to fuel security.
This will provide an option for proponents whose projects do not yet meet IDA EOI criteria, such as those at an earlier stage of development, to still put forward information about potential projects as part of the fuel security round, the Government said.
“The impact of the recent fuel supply challenges has been felt across a vast array of industries, hitting the back pockets of everyone in NSW,” said Minister for Planning and Public Spaces, Paul Scully.
“There is great port and industrial land capacity in NSW that could be harnessed to support our long-term fuel security while helping reduce transport emissions at the same time.
“This new targeted round of the Investment Delivery Authority will make sure NSW attracts the right investments to create a more resilient fuel future.”
The fuel security round of the IDA and the Market Sounding process will open on 1 June and industry will have three weeks to submit their projects.
For more information on the IDA visit www.nsw.gov.au/departments-and-agencies/investment-nsw/investment-delivery-authority.
