An Australian Government renewable energy auction is expected to deliver up to 650 MW of large-scale renewable energy for Victoria.
The competitive reverse auction, opened by the Australian Government on 15 November 2017, will give companies with an existing planning permit to build a renewable energy facility a chance to bid for 15-year Support Agreements with the Victorian Government.
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, and is expected to drive up to $1.3 billion in new capital expenditure and create 1,250 construction jobs.
Most of the new jobs will be created in regional Victoria where wind and solar projects are likely to be based.
Minister for Energy, Environment and Climate Change, Lily D’Ambrosio, said renewable energy is key to Victoria’s future.
“This competitive auction will provide much needed certainty to the energy industry, supporting new projects in regional Victoria,” Ms D’Ambrosio said.
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.
Information sessions will be held from late November 2017.