Australia’s energy transition is at a critical juncture, marked by the growth of renewable energy at the same time as a persistent need for fossil fuels. The recent extension of the Eraring power station’s life in NSW and the Victorian government’s concessions on the need for new gas underscore the ongoing importance of coal and gas in ensuring energy security during this transition. On the other hand, an influx of international capital and expertise is reshaping Australia’s renewable energy sector and accelerating the growth of utility-scale solar and wind farms.