The Government is committed
to re-establishing Victoria as a leader in renewable energy. By implementing supportive policies, the Government is
giving the renewable energy sector the confidence needed to invest in the renewable energy projects and jobs that are
crucial to our State's future.
In June 2016, the Victorian Government committed to Victorian renewable energy
generation targets of 25 per cent by 2020 and 40 per cent by 2025. These targets will be supported by a competitive
reverse auction scheme.
The scheme is designed to:
- Deliver up to 1500 megawatts (MW) of
new large-scale renewable energy capacity by 2020 and up to 5400MW by 2025.
- Support capital
expenditure of around $9 billion in renewable energy projects, which would result in about $2.5 billion of direct
investment in Victoria; and
- Create up to 11,000 two-year construction jobs over the life of the
scheme, particularly in regional Victoria. In the peak year of project construction, the scheme is expected to deliver
over 4,000 renewable energy jobs.
Read the media release - Renewable Energy Targets To
Create Thousands Of Jobs
A consultation paper on the detailed
design of Victoria's renewable energy auction scheme is available via the link below.
The consultation paper
sought feedback on the design of the overall scheme structure, as well as on specific scheme components including
payment structure, contracting elements, scheme administration and cost recovery mechanism, and auction evaluation
Workshops were held on 23 and 24 August 2016 for key stakeholders and interested members of the
public to provide verbal feedback on the consultation paper.
workshops into the design of the scheme, feedback was also invited through written submissions to the Consultation
Paper via email@example.com.
Government received submissions from a range of renewable energy project developers, financiers, peak bodies, agencies
and individuals. Written submissions closed on 31 August 2016.
A summary of the submissions has been
prepared and can be found below.
Victorian Renewable Energy Auction Scheme summary report
of stakeholder submissions [PDF File - 594.9 KB]
Non-confidential submissions into the design of the
Victorian Renewable Energy Auction Scheme Consultation Paper are below.