Australia has embarked on its largest renewable energy tender to date, offering 6 gigawatts (GW) of new projects aimed at bolstering the National Electricity Market (NEM). This significant move marks the first round of bids under the government's "Reliable Renewables Plan," which seeks to deliver 32GW of new generation and storage capacity by 2030 through an expanded Capacity Investment Scheme (CIS). The initiative underscores Prime Minister Anthony Albanese’s commitment to transforming Australia into a global leader in renewable energy.
The tender, primarily focusing on New South Wales, is a major step in Australia’s pursuit of sustainable energy solutions. The CIS targets both dispatchable and variable capacities across the nation, ensuring a balanced and reliable power supply. Minister for Climate Change and Energy Chris Bowen emphasized that the tender is a critical component of the plan to meet Australia’s ambitious renewable energy targets, contributing significantly to the national grid’s stability and resilience.
Australia's strategy includes rolling out new tenders every six months to meet the 32GW target by 2030. This systematic approach is designed to attract significant investment in renewable energy infrastructure, supporting the country's transition away from fossil fuels. The Reliable Renewables Plan reflects Australia’s determination to leverage its vast renewable resources, positioning itself as a green superpower on the global stage.
Source: rechargenews.com