The Australian and Victorian governments have agreed to sign a new deal that will deliver more renewable energy through the Capacity Investment Scheme (CIS) to the benefit of Victorian households and businesses.
The agreement will deliver at least 1.4 GW of renewable energy specifically to the state of Victoria, enough to power 750,000 households.
The Australian and Tasmanian governments have also reached an agreement for an allocation of 300 MW for renewable energy projects in Tasmania.
The two new deals build on the allocation of at least 2.2 GW of renewable energy for New South Wales and 300 MW in South Australia that was announced in April.
The allocations of renewable energy to the four states are part of the CIS Tender 1, Generation in the NEM (Tender 1), the largest single ever tender for renewable energy in Australia.
Tender 1 will target 6 GW of renewable generation capacity in the National Electricity Market (NEM). Registration of bids for the tender open on 31 May.
The Australian Government has released a market brief for Tender 1 to provide key information to potential proponents.
Through the CIS, the Australian Government will seek competitive tender bids for renewable capacity and clean dispatchable capacity projects to:
- deliver an additional 32 GW of capacity by 2030
- deliver the Australian Government’s 82% renewable electricity by 2030 target.
The Australian Government has selected AEMO Limited, and its independent subsidiary AEMO Services Limited, (together AEMO) as service providers to administer CIS competitive tender processes, including to recommend projects to the Australian Government consistent with tender guidelines.
