Blessed with wind and solar resources, renewable energy companies are clamouring to take part in the bounty of NSW amid a global oil crisis.
More than 15 projects worth a total of $34.4 billion in potential investment are being looked over at the newly established Investment Delivery Authority.
The government is hoping dozens of projects in the next couple of decades will generate enough electricity to power 5.5 million homes with Australia's biggest coal-fired facility Eraring extended to 2029.
Coal still remains the biggest export at some $33 billion, but the state wants to spruik its green credentials with 43 projects in the past three years as it aims to reduce greenhouse emissions by 50 per cent by 2030.
The IDA's four-person panel overrides councils and accelerates planning approvals for businesses amid complaints making major investments in NSW is too complex and time-consuming.
"These endorsed projects will mean more reliable and affordable power for NSW, and more jobs and investment right across the state, particularly in regional NSW," Environment Minister Penny Sharpe said on Wednesday.
Renewable sources delivered 40 per cent of energy in the National Electricity Market, with Australia targeting a goal of 82 per cent by the end of the decade.
Two hotel projects valued at $482 million have also been endorsed to proceed to the next stage.
Treasurer Daniel Mookhey, who is due to front a budget estimates hearing in parliament on Wednesday, said long-term economic growth was in the offing with NSW signalling to global markets that it was "open for business."
NSW accounted for 65 per cent of Australia's venture capital investment in 2024, and hosts five out of eight "unicorn" companies - privately-held start-ups valued at more than $1 billion.
