ENERGY STAR-certified Nextera Renewable Energy (NRE) facilities, which are installed in homes and businesses across Victoria, have provided hundreds of thousands of new jobs, and provided more than $40 million in additional income to families across the state.
Photo: Justin McManus Energy-intensive homes are expected to generate about $50 million in net revenue to Victoria’s economy over the next two years.
The cost of the Nextera system is estimated at $15 million to $20 million per annum.
The company, which has received more than 60,000 approvals from state and territory governments, said in a statement it would be investing $4.5 million in the project over the three years.”NRE’s Nextera program is the most successful and cost-effective way to generate energy in the region,” the statement said.
“We are working closely with state and local governments, the local communities and communities across Victoria to ensure that the NexTeras energy system is built to deliver value for money.”
NRE’s operations are managed by the State Government.
“Our system is being delivered to communities by the Department of Energy and Climate Change and the State Electricity Market Operator (SEMA) in partnership with the Commonwealth Government, which will support the delivery of Nextera power,” the company said.
NRE is not the only major company to invest in Nextera.
In November last year, Chevron invested $50.6 million in NexTerra’s $5 billion power generation and distribution network.
“The NRE NexTera network provides a strong return on investment for the company,” Chevron CEO Brian McEwan said in the statement.
“It has significantly enhanced our ability to deliver energy-efficient, renewable energy, as well as delivered an economic boost to communities in our community and beyond.”
In November, Enbridge also signed a deal to build NexTerras power network.
Energy-efficient homes are anticipated to generate more than a million new jobs and generate $15.5 billion in additional economic activity in Victoria over the past three years, according to the state government.
NRG Energy invested $25 million in a Nextera plant near St Albans in 2016.
NRGE also operates a NexTerasea power network in western Victoria, which provides up to 800 megawatts of renewable power.
“We are confident that NexTerases energy system will deliver significant benefits for our community, which supports an additional 12,000 jobs and more than 5,500 new homes,” Ms McKenzie said.
“NRG has invested in Nexteras new technology and expertise in order to meet its customers’ needs and meet their energy goals.”
The federal government has also been working with the Federal Government on Nexterases $6 billion renewable energy project, known as the Northern Gateway.
The Northern Gateway project has also seen investment by several major companies, including Enbridge, Chevron, Shell, and Total.
“This investment will enable us to build the Nexters next generation of renewable energy facilities and power network,” Ms McEwane said.