Electricity sell off benefits NSW projects

Major rail projects such as the Sydney Metro and Westconnex could soon see their share of nearly $3 billion from the government's partial lease of Endeavour Energy.

NSW will receive $2.9 billion from leasing half the state's electricity network as Australian-led consortium Advance Energy secures the 50.4 per cent stake for $7.6 billion, Premier Gladys Berejiklian announced on Thursday.

After the asset's debts are paid, the state will receive $2.9 in net proceeds from the sale, which finalises the government's controversial move to sell off the state's "poles and wires".

The proceeds will help fund major rail and roads projects such as the Sydney Metro and Westconnex, as well as new schools, hospitals, and arts or sports centres.

"These transactions are complete and now we can get on with the job of not just building the things we promised we would but, where possible, bringing those things forward," Ms Berejiklian said in Sydney.

She added that the sales far exceeded the government's expectations.

About $23 billion in net proceeds will flow from the state's overall electricity asset program, which included the $16.2 billion sale of the Ausgrid network and $10.2 billion sale of TransGrid.

However, opposition Leader Luke Foley said the government will struggle to fund future projects with the extra cash given its track record.

"The cost of Westconnex has blown out by $7 billion on (the government's) watch," he said in Sydney.

"So the cost blowout on that one road project alone far exceeds any additional revenue from their privatisation here."