In a significant development for Australia's renewable energy landscape, the states of Victoria and Tasmania have secured a combined guaranteed allocation of at least 1.7 GW in the upcoming national renewable energy tender scheduled for this month.
Announced by the Australian government on Friday, the competitive bidding process is set to commence registrations on May 16, with the tender officially opening for bids on May 31. This auction marks the largest single renewables auction to date under Australia's expanded Capacity Investment Scheme (CIS), which aims to facilitate the deployment of 32 GW of renewable energy capacity.
Victoria is set to benefit from a reserved capacity of at least 1.4 GW, while Tasmania will receive a minimum allocation of 300 MW. These allocations supplement the 2.2 GW previously reserved for New South Wales, along with 500 MW for Western Australia and 300 MW for South Australia, leaving Queensland as the sole state without a designated allocation.
Australia initiated its pilot CIS auction in November last year, successfully awarding over 1 GW of dispatchable power in New South Wales. Building upon this momentum, the expanded CIS program aims to accelerate renewables deployment and achieve the country's ambitious target of 82% renewable energy by 2030. The scheme outlines plans for regular competitive tenders every six months until 2027.
