Australia’s renewable energy sector is poised for significant growth with the announcement of 19 new projects under the Capacity Investment Scheme (CIS) Tender 1.
The projects will contribute 6.4 GW of clean energy to the national electricity market, enough to power three million homes.
Spanning New South Wales, Victoria, South Australia and Queensland, they represent a significant step towards achieving Australia’s target of 82% renewable electricity by 2030.
The projects include solar, wind and hybrid technologies, with 40% including battery storage to ensure energy reliability.
In New South Wales, seven projects will generate 3.7 GW, including 900 megawatt hours (MWh) of battery storage. Victoria will see seven projects producing 1.6GW, along with a further 1,500MWh of storage.
South Australia will have two projects generating 574 MW, and Queensland will host three projects contributing 550 MW with 1,200 MWh of storage.
The selection process for the projects was competitive: 84 bids were submitted, offering four and a half times more capacity than the tender.
This indicates a robust pipeline of investors keen to build and operate renewable energy projects in Australia.
Further tenders are underway and bids have now been received for the third and fourth rounds of the CIS. These rounds are expected to generate one and a half times more energy than the first tender.
In addition to clean energy, the projects will deliver economic and social benefits, including $660 million for community development, $280 million for First Nations benefits, $14 billion invested in local suppliers and $60 million for local employment and new jobs. training programs.
Most projects will start between 2026 and 2028 and contribute to emissions reduction and energy reliability.
Minister for Climate Change and Energy Chris Bowen said: “The former coalition government ignored the experts and refused to take advantage of our abundant sun and wind, leaving households to pay the price for an electricity grid that was overly reliant on expensive, unreliable, aging coal and electricity. exposed to international price shocks.
“The Albanian Labor Government is delivering an energy system to Australian households and businesses that is the lowest cost, more reliable and better equipped to power Australian homes and businesses now and into the future.
“We also ensure that the communities hosting these projects see the benefits – with a strong commitment to using Australian manufacturing and employing local people.”
The outcomes of Tender 1 and the previous SA-Vic Pilot Tender underline the growing interest in the future of sustainable energy in Australia.
