Victoria launches 650-MW reverse renewable auction

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The Minister for Energy, Environment and Climate Change Lily D’Ambrosio has announced the opening of a competitive reverse auction that will deliver up to 650 MW of large-scale renewable energy for Victoria, Australia.

Companies with an existing planning permit to build a renewable energy facilities will be able to bid for 15-year Support Agreements with the Victorian Government. These long-term contracts will create investment certainty to build new energy generation projects and reduce wholesale electricity prices.

The auction has been designed to bring forward projects that achieve the highest standards of community engagement, benefit local economies and represent value for money. 

The auction is expected to drive up to AU$1.3 billion (US$ 1.5 billion) in new capital expenditure, create 1,250 construction jobs and 90 on-going roles. Most of the new jobs will be created in regional Victoria where wind and solar projects are likely to be based.

The Victorian Renewable Energy Targets will ensure 25 per cent of the state’s electricity generation comes from renewable sources by 2020, and increasing to 40 per cent by 2025.

Details of the tender process can be found at tenders.vic.gov.au. 

The Minister for Energy, Environment and Climate Change Lily D’Ambrosio, commented on the matter:

“Renewable energy is key to Victoria’s future and we’re not wasting a minute – to drive new investment, create jobs and cut electricity prices.”

“This competitive auction will provide much needed certainty to the energy industry, supporting new projects in regional Victoria.”

We have recently reported about several projects in Australia:

• 180 MW Mount Emerald wind farm
• 144 MW Cattle Hill wind park in Tasmania
• 132 MW Mount Gellibrand wind farm in Victoria
• 250 Kidston Stage 2 Pumped Hydro Storage project in Northern Queensland
• 250 MW Freedom Energy One CSP and storage facility in Queensland
• 88 MW Wemen solar project in Victoria
• 75 MW Clermont Solar farm in Northern Queensland
• 600-1000 MW Robbins Island and Jims Plain wind farm complex in Tasmania
• 50 MW Mirani solar PV project
• 28 MW East Rockingham waste to energy in East Rockingham
• 100 MW Biala wind farm in Southern Tablelands region