Australia’s renewable energy sector is poised for significant growth with the announcement of 19 new projects under the Capacity Investment Scheme (CIS) 1 tender.
The projects will contribute 6.4 gigawatts of clean energy to the national electricity market, enough to power three million homes.
These networks, spread across New South Wales, Victoria, South Australia and Queensland, represent an important step towards achieving Australia’s goal of generating 82% renewable electricity by 2030.
The projects include solar, wind and hybrid energy technologies, 40% of which include battery storage to ensure energy reliability.
In New South Wales, seven projects will generate 3.7 gigawatts, including 900 megawatt-hours of battery storage. Victoria will see seven projects producing 1.6 gigawatts, plus an additional 1,500 megawatt hours of storage.
South Australia will have two projects generating 574MW, and Queensland will host three projects contributing 550MW of capacity with 1,200MW of storage.
The project selection process was competitive, with 84 bids submitted, providing four and a half times more capacity than the tender.
This indicates that there is a strong group of investors eager to build and operate renewable energy projects in Australia.
More tendering is underway, with bids for the third and fourth rounds now being received from the CIS. These rounds are expected to provide one and a half times more energy than the first tender.
Along with clean energy, the projects will provide economic and social benefits, including A$660 million (US$422 million) in community development, A$280 million in First Nations subsidies, A$14 billion invested in local suppliers and A$60 million for local employment and employment opportunities. New work. Training programs.
Most of the projects will begin operations between 2026 and 2028, contributing to reduced emissions and energy reliability.
Climate Change and Energy Minister Chris Bowen said: “The previous coalition government ignored the experts and refused to take advantage of the abundance of sun and wind, leaving households to pay the price for a grid that relied heavily on expensive, unreliable and aging coal.” Exposure to global price shocks.
“The Albanian Labor Government provides Australian households and businesses with a lower cost, more reliable and better equipped energy system to power Australian homes and businesses, now and into the future.
“We are also ensuring that the communities hosting these projects see their benefits – with a strong commitment to using Australian manufacturing and employing local people.”
The results of Tender 1 and the previous SA-Vic pilot tender underscore the growing interest in the future of renewable energy in Australia.
