Victoria launches second renewables auction of 600MW, with stronger network requirements

The state is hoping to stimulate renewable investment by improving connectivity to its grid. Image: Trina Solar.

The Australian state of Victoria has launched its second Victorian Renewable Energy Target (VRET) auction for 600MW of energy projects, which will feature strengthened network requirements to ensure projects can be easily connected to Australia’s grid.

Launched yesterday (31 August), the tender will close on 8 November, with successful projects expected to be announced mid-2022.

The second auction has stronger network requirements so that projects can be connected to the grid quickly given the backlog of projects waiting connection to Australia’s National Electricity Market (NEM). It is being delivered alongside the Australian Energy Market Operator (AEMO) to mitigate grid connection risks.

Last month (3 August), the state unveiled six grid upgrade projects as part of efforts to unlock new renewables investment. Meanwhile, the new chief of AEMO said he wanted the country’s grids to be capable of handling 100% renewables by 2025.

The auction comes after Victoria started to test industry appetite for new renewable projects in September last year as a way to bounce back from the pandemic. The new auction is expected to deliver more than 2,000 new jobs and AU$1 billion worth of economic investment.  

The projects will be used to power Victorian hospitals and schools, Melbourne’s entire train network and a range of other government infrastructure and services, the state said.

More information on the auction can be found here.

Read Next

August 8, 2022
Despite an initial selection of 15 bidders, Chile’s latest power auction awarded only two companies contracts, with 777GWh of solar PV co-located with energy storage and wind secured.
August 5, 2022
Germany solar developer Wirsol Energy has received development approval for its Maryvale solar and energy storage project in New South Wales (NSW) by the NSW Department of Planning, Industry and Environment.
August 3, 2022
Spain has started the process to celebrate a fourth round of renewables auction in November with 1.8GW of solar capacity to accelerate its electrification.
July 4, 2022
The Australian state of Victoria is promoting the uptake of rooftop solar as part of a new strategy aimed at reducing gas use and lowering household energy bills.
June 30, 2022
The Australian Energy Market Operator (AEMO) has revealed its 2022 Integrated System Plan (ISP), laying out a 30-year roadmap that plots the transition to net-zero and identifies upcoming investments in the National Electricity Market (NEM), which covers the populous south and east of the country.
June 24, 2022
The Australian Energy Market Operator has restored wholesale market in all regions of Australia after suspending it more than a week ago.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event