"As we enter a crucial decade for Australia’s energy transition, Transgrid has sharpened its focus on building the critical transmission infrastructure needed to achieve a clean, green energy future."
Getting future-fit
FY22 was a year of significant transformation for Transgrid as we strengthened our capability and capacity to play a central role in delivering the Australian Government’s Rewiring the Nation strategy, and the energy infrastructure of the states and territories that are so critical to the decarbonisation of our economy.
In November 2021, the Board was delighted to appoint Brett Redman as our new Chief Executive Officer. Brett’s broad expertise and experience in the energy sector, in particular his focus on the transition to a clean energy future, have us well placed to lead the industry into a new era of energy transformation.
To guide our transformation, we have refreshed Transgrid’s corporate strategy to include ambitious goals, focused on strengthening stakeholder and community trust, fast-tracking the delivery of critical infrastructure and reducing wholesale electricity prices for Australians. Brett has also overseen significant renewal across the executive leadership team to provide additional depth and breadth as we continue to grow and transform the business.
We have also taken the opportunity to evolve our corporate brand to reflect this evolution in our business, including our commitment to Reconciliation with Yura. Gili. Nanga, the indigenous interpretation of Power. People. Possibilities - as we strive to create stronger connections with the traditional custodians of Country.
Refreshing the Board
Our Board renewal cycle saw the retirement of Rick Francis, Dr Keith Turner, Steven Fitzgerald and Kevork Sahagian during the year. I extend my sincere gratitude to each of our retiring directors for their significant contributions during their respective tenures.
Joining the Board in their first terms as non-executive directors are Jan Brand, Stasha Prnjatovic and Deion Campbell, all of whom bring significant capabilities from across the infrastructure and utility sectors to help accelerate the delivery of Transgrid’s vision.
Building a green grid
As we work with Government’s across the eastern seaboard to deliver on the nation’s clean energy future, we successfully delivered the $235 million Powering Sydney’s Future, project which secures electricity supply to the Sydney CBD for decades to come. The project, delivered on time and on budget, is ensuring a reliable electricity supply to more than 800,000 residents and businesses to help power the nation’s largest economy.
The $236 million Queensland-NSW Interconnector upgrade was also completed on time and on budget in June this year. The work included upgrading 300 kilometres of existing transmission lines, allowing more energy to flow between the two states and reducing constraints on the NSW transmission network.
Transgrid also continued to innovate to serve customer needs for safe, reliable and secure energy. We pursued innovative technologies and services as non-network alternatives to conventional projects. For example, instead of adding new poles and wires, we installed awardwinning SmartValve units in the Victoria-NSW Interconnector upgrade, which will unlock enough extra energy to power 30,000 homes.
Importantly, our grid-scale battery trials gathered momentum as we began operating the state’s first large-scale battery at our Wallgrove substation in Western Sydney. We also identified opportunities to use grid-scale battery energy storage systems in several areas to reduce or defer the need for new transmission. We have also commenced planning one of the world’s largest renewable mini-grids, which will provide backup power supply to Broken Hill, replacing conventional diesel generators.
On behalf of the Board, I would like to thank our new CEO Brett Redman, the Executive Leadership Team and everyone at Transgrid, for their hard work during a fast-paced and dynamic year. Together with the community and our stakeholders, we are creating a strong, flexible, secure and sustainable electricity network for all Australians. We are proud of our collective achievements and look forward to continuing to play our part in the nation’s historic energy transition.