What's Happening?
New South Wales has successfully secured over $330 million in commercial agreements with businesses in the Guangdong Province of China, focusing on energy transition and net zero initiatives. Led by Minister for Industry and Trade Anoulack Chanthivong,
the trade mission aimed to foster collaboration in clean energy, health, technology, and agriculture. A significant outcome of the mission is a $130 million supply contract between Highstar Sodium Battery and Highflow Energy, which will deliver 1 gigawatt per hour of sodium-ion products to the Australian market over three years. Additionally, a memorandum of understanding was signed between Guangdong's National New Energy Storage Innovation Center and Australia's Smart Energy Council to enhance battery technology research and development.
Why It's Important?
These agreements are pivotal for New South Wales as they align with the state's Trade and Investment Strategy 2035, aiming to create jobs, attract investment, and diversify the trade base. The collaboration with China, a major trading partner, underscores the importance of international partnerships in achieving net zero goals and advancing technological innovation. The focus on clean energy and sustainable practices is crucial for addressing climate change and transitioning to a low-carbon economy. These initiatives are expected to deliver tangible benefits to New South Wales businesses and communities, enhancing economic growth and environmental sustainability.
