Prime Minister Anthony Albanese told a business breakfast in Perth on Tuesday the funding would come from the Rewiring the Nation scheme.
The national scheme would provide $20 billion in equity for modernising the transmission network.
In WA, it will create new infrastructure and economic development in Geraldton, Albany, Karratha and Port Hedland.
"In 2023, Australia has an energy grid built for a time when solar panels powered pocket calculators and not households," Mr Albanese said.
He said the plan would provide renewable energy infrastructure that would boost the state's prosperity and sustainability.
"The clean, reliable energy will enable us to grow export industries in energy-intensive sectors while still reducing our emissions," Mr Albanese said.
He also praised the WA resources sector for helping prop up the Australian economy, with half of the nation's lithium extraction occurring in the state.
Mr Albanese said the Rewiring the Nation scheme would pump billions of dollars into upskilling Australian manufacturing with critical minerals currently being processed offshore.
"I want us to be able to say that the next generation of batteries and charging technology and the innovations that will maximise their power and speed and capacity and efficiency come from Australia," he said.
"(It will be) moving us up the international value chain (and) value-adding in resources, mining science technologies and processing raw materials."
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