The Minister for Energy has announced the beginning of a ‘market sounding’ process for hundreds of megawatts of new, clean, affordable electricity.
Announced by the Minister, Lily D’Ambrosio, the market sounding process would test industry’s interest and capacity for new solar, wind and other renewable energy projects.
“The process will also explore the potential for electricity-reliant industries and businesses to buy renewable energy along with Government through this process,” Ms D’Ambrosio said.
“In 2017, the Victorian Government sought 650 megawatts (MW) of renewable energy through the Victorian Renewable Energy Target (VRET) Auction,” she said.
“The VRET auction exceeded this ambitious target, delivering 928 MW of renewable energy.”
Ms D’Ambrosio said the process would test the capacity of industry to deliver at least a further 600MW of renewable energy, enough to power every hospital and school in Victoria, Melbourne’s train network and a range of other Government infrastructure and services.
“It represents the next step in Victoria’s plans to continue to drive significant investment in Renewable Energy Zones, with more support to come to expedite and streamline grid connections,” she said.
She said Victoria was on track to meet its legislated 2020 renewable energy target of 25 per cent and the procurement of new generation resources would make a significant contribution to meeting the 2025 target of 40 per cent renewable energy.
