Renewable Energy Plan

Ms HILDYARD (Reynell) (14:47): My question is to the Minister for Investment and Trade. Can the minister update the house on the impact of the renewable energy plan and the Neoen-Tesla lithium battery announcements on interest in investment in South Australia?

The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Small Business, Minister for Defence Industries, Minister for Veterans' Affairs) (14:47): I thank the member for Reynell for the question. The South Australian government's energy plan and the recent announcement regarding the Tesla battery storage has sparked—

Members interjecting:

The Hon. M.L.J. HAMILTON-SMITH: —I thought you would like that—significant overseas interest in investment opportunities in South Australia. Investment Attraction SA has engaged with a significant number of major international renewable energy producers about investment opportunities in SA since the release of the renewable energy plan. IASA has been actively working with Neoen Australia for the past several years in relation to its Hornsdale wind farm, stages 1 to 3. My agency assisted the company with the development applications and construction environmental management plans. The SA government supported Neoen Australia and its proposals to secure the offtake agreements—

Mr Marshall: What's the name of the company?

The Hon. M.L.J. HAMILTON-SMITH: Is it something sensible I hear from opposite?

Mr Marshall: What's the name of the company? We couldn't hear.

The Hon. M.L.J. HAMILTON-SMITH: Don't you know the name of the company? Neoen.

Mr Marshall: Who?

The Hon. M.L.J. HAMILTON-SMITH: Neoen. Have you got it? Neoen. I think that qualifies as the most intelligent question I have heard from you in the last few weeks, having sat with you through estimates. That was about the best—full marks. The Hornsdale wind farm, once fully completed in December 2017, represents a capital investment of $830 million, 150 construction jobs and approximately 10 ongoing jobs during its operation. Other investment discussions include renewable energy production with technology including wind, solar PV farms, solar thermal and hydrogen and battery storage.

IASA has advised that the renewed interest in investment in South Australia is a direct result of South Australia's exposure to the world following the release of Our Energy Plan followed by the expression of interest processes for the 100-megawatt battery storage and the announcement of the battery storage at Hornsdale wind farm. As the Treasurer explained, this follows reports by both CommSec and Deloitte confirming that business investment in South Australia is at the top of all the states.

IASA is continuing to work with companies such as DP Energy in relation to investment opportunities for its Port Augusta Renewable Energy Park project 1 and its proposed Port Augusta project 2, which includes solar PV and energy storage. IASA's minerals and energy division has received substantial amounts of positive feedback due to the state battery expression of interest process. IASA is working with these global energy companies.

These groups were primarily focused on taking part in the expression of interest and have now shifted their attention to the long-term investment potential of taking part in separate battery storage agreements through bilateral agreements and additional vertical integration strategies. IASA has proactively identified over 30 global corporations in the battery/renewable energy sector that would be ideal participants in the state's growing energy plan. It has commenced with the design of a renewable energy investment road map.

The impact of the lithium battery project and the $200 million Future Jobs Fund have created a significant level of investment interest in South Australia. We are open for business. People want to come here and invest not just in the energy sector. We have opened up to 80 lines of inquiry in the food and agri sector, financial and business services and technology and creative industry sectors.