Australia's renewable energy sector is set to grow significantly with the announcement of 19 new projects under Offer 1 of the Capacity Investment Scheme (CIS).
The projects will add 6.4GW of clean energy to the national electricity market, enough to power three million homes.
Spread across New South Wales, Victoria, South Australia and Queensland, they represent a major 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 3.7GW, including 900 megawatt hours (MWh) of battery storage. Victoria will see seven projects producing 1.6GW, along with an additional 1,500MWh of storage.
South Australia will have two projects generating 574MW, while Queensland will host three projects adding 550MW with 1,200MWh of storage.
The selection process for the competing projects, with 84 applications submitted, offered four and a half times more capacity than was submitted.
This shows a strong pipeline of investors eager to build and operate renewable energy projects in Australia.
Other offers are ongoing, with applications for the third and fourth rounds of the CIS now being received. These rounds are expected to deliver one and a half times more energy than the first offering.
In addition to clean energy, the projects will provide economic and social benefits, including A$660m ($422m) for community development, A$280m for First Nations benefits, A$14bn invested in local suppliers and $60m for local employment and new jobs and training programs.
Most projects will start operating between 2026 and 2028, contributing to emissions reductions and energy reliability.
Climate Change and Energy Minister Chris Bowen said: “The previous coalition government ignored the experts and refused to take advantage of our abundance of solar and wind, leaving families paying the price. the price of having a grid that is too reliant on expensive, unreliable, aging coal. exposed to international price effects.
“The Scottish Labor Government is delivering an energy system for Australian homes and businesses that is the lowest cost, most reliable and best equipped to power Australian homes and businesses, now and into the future.
“We are also ensuring that the communities that host these projects see the benefits for them – with a strong commitment to use Australian manufacturing and employ local people.”
The results of Offer 1 and the previous SA-Vic Pilot Offer confirm the growing interest in Australia's renewable energy future.
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