Australia: Capacity Investment Scheme receives interest from 40GW of solar and wind energy

Facebook
Twitter
LinkedIn
Reddit
Email
6GW has been made available for the first auction of the Capacity Investment Scheme. Image: Total Eren.

Australia’s minister for Climate Change and Energy Chris Bowen revealed today (24 June) that the first auction of the Capacity Investment Scheme (CIS) has received interest from more than 40GW of solar and wind projects.

Penned in an opinion piece for the Australian Financial Review, Bowen used this figure to attack the Coalition’s recent pledge to build seven nuclear reactors to support the nation’s decarbonisation journey. However, Bowen believes that the interest surrounding the CIS shows an appetite to grow renewable energy generation capacity.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“The first auction of the CIS, which will support 6GW of new power, has received more than 40GW of project registrations, showing there is a strong pipeline of renewables ready to go with the right policy settings,” Bowen said in the article.

The country’s ‘largest single largest renewables tender in history’

The Albanese government announced the expanded CIS in November 2023, intending to underwrite 32GW worth of renewable energy generation and energy storage capacity. In April 2024, it said it would be the “largest single renewables tender in the country’s history”.

At the time, Chris Bowen, also revealed that the Albanese government and the government of New South Wales (NSW) would work together to advance a “single combined tender process for generation infrastructure under the CIS and NSW Roadmap from November this year”.

As previously reported by PV Tech, Bowen said there would be a 500MW capacity tender for projects in Western Australia due to open “mid-year”, dependent on consultation and final agreement.

Australia’s PV manufacturing industry receives AUS$100 million boost

Last week (19 June), the Australian Renewable Energy Agency (ARENA) launched its global AUS$100 million (US$66 million) ‘Solar ScaleUp Challenge’ to stimulate innovation and collaboration in the solar sector.

The initiative invites professionals from across the international solar landscape, such as financiers, solar customers, engineers, and developers, to break down barriers to installing, operating, and maintaining solar PV projects.

This will also enable ARENA to work towards the vision of its Ultra Low-Cost Solar (ULCS), which argues that a ‘30-30-30’ approach to solar, representing 30% solar module efficiency and an installed cost of 30 cents per watt by 2030, could help Australia become a renewable energy superpower. This would mean achieving a levelised cost of electricity below AUS$20 per megawatt hour by 2030.

Read Next

July 1, 2025
A five-year research initiative is underway in Australia to test the viability of floating solar systems on irrigation dams.
June 30, 2025
Heliene has completed the sale of Section 45X Advanced Manufacturing Production Tax Credits in association with Minnesota-based U.S. Bank.
June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece