ACT ‘reverse-auctions’ renewable energy construction

ACT ‘reverse-auctions’ renewable energy construction
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The ACT Government will contract for the construction of up to 250MW of renewable energy generation through a ‘reverse-auction’, to maintain 100 per cent renewable electricity into the future. 

ACT Minister for Climate Change and Sustainability Shane Rattenbury, said, “We’ll soon reach 100 per cent renewable electricity in the ACT, which is a great achievement. But our city will keep growing, and we’ll be transitioning buildings and vehicles to be all electric. 

“This is expected to increase electricity consumption, so we’re contracting more renewable electricity generation to ensure we stay at 100 per cent. 

“In the ACT, we’re committed to climate change action, and we’re planning ahead to ensure we only use renewable electricity. 

“The renewables auction will also allow the ACT to further develop our renewable energy industry, expand our economy and job growth, and provide significant boosts in local investments.

“I am excited to announce that through this auction we will also require successful bidders to deliver large scale battery storage capability located in the ACT.”

The total battery storage required will be 20MW and 40MWh.

“It will also support the ACT electricity grid, helping to manage fluctuations in grid voltage and frequency, remove the need to upgrade network infrastructure, store excess electricity from renewable electricity sources, and provide power to help avoid blackouts during periods of high demand and when large fossil fuel generators fail in heatwave conditions,” Mr Rattenbury said. 

“The battery could power 25,000 typical houses for two hours.

“I look forward to announcing the next major phase of climate action in the ACT. The Strategy will outline how we move to renewable energy solutions and what will drive the decarbonisation of the region up to 2025 and beyond.”

The ACT’s reverse auction scheme to reach 100 per cent renewable electricity has already leveraged more than $2 billion of investment into 10 large scale renewable energy projects around Australia, and more than $500 million in the ACT.

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