Victoria introduces second renewables auction of 600MW, with more powerful network needs

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

Released the other day (31 August), the tender will certainly close on 8 November, with effective projects expected to be announced mid-2022.

The second auction has stronger network requirements to make sure that projects can be attached to the grid promptly offered the backlog of projects waiting connection to Australia's National Electricity Market (NEM). It is being provided alongside the Australian Energy Market Operator (AEMO) to minimize grid connection dangers.

Last month (3 August), the state unveiled six grid upgrade projects as part of efforts to open new renewables financial investment. On the other hand, the brand-new chief of AEMO stated he wanted the country's grids to be with the ability of taking care of 100% renewables by 2025.

The auction follows Victoria started to test industry cravings for new sustainable projects in September last year as a way to bounce back from the pandemic. The new auction is anticipated to supply more than 2,000 new jobs and AU$ 1 billion well worth of financial investment.

The projects will certainly be utilized to power Victorian hospitals and institutions, Melbourne's whole train network and a variety of various other federal government facilities and solutions, the state said