Department of Environment, Land, Water and Planning
Victorian Renewable Energy Target Reverse Auction
The auction, part of the Victorian Renewable Energy Targets program, was initially expected to deliver at least 650MW of renewable energy but delivered 928MW – almost 45% more power than anticipated.
The program will ensure that 25% of our electricity generation comes from renewable sources by 2020, 40% by 2025 and 50% by 2030.
The auction is the largest ever tender process for renewable energy in Australia and supports three new wind and three new solar farms, totalling 928 MW.
Successful projects will generate enough power for the equivalent of more than 646,000 homes every year; generate approximately 6.2% of Victoria’s annual generation, displacing high emitting brown coal generation; and have the potential to reduce Victoria’s greenhouse gas emissions by up to 2.2 million metric tonnes, equivalent to 1.1 million tonnes of coal burned for energy.
They will also generate $1.1 billion in investment and create more than 900 new jobs and dozens of apprenticeships and traineeships, mostly in regional Victoria.
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