VIC: More Renewable Energy To Drive Down Power Prices

In Energy, Latest News

Victoria’s first renewable energy auction will generate more than 900 megawatts (MW) of new clean energy, driving down energy prices for Victorian families.

The auction, part of the Victorian Renewable Energy Targets (VRET), was initially expected to deliver at least 650MW of renewable energy. That goal has been smashed, with the auction instead delivering 928MW of renewable energy – almost 45 percent more power than originally anticipated.

Premier Daniel Andrews and Minister for Energy Lily D’Ambrosio today visited the Ararat Wind Farm to announce the six successful projects that will produce enough electricity to power 646,273 households.

Together, these projects will generate $1.1 billion of economic investment in regional Victoria and create more than 900 jobs, including 270 apprenticeships and traineeships. The winning projects are the:

  • Berrybank Wind Farm west of Geelong, which will produce 180MW
  • Cawarp Solar Farm south of Mildura, which will produce 121.6MW
  • Cohuna Solar Farm north-west of Echuca, which will produce 34.2MW
  • Dundonnell Wind Farm north-east of Warrnambool, which will produce 336MW
  • Mortlake South Wind Farm south of Mortlake, which will produce 157.5MW
  • Winton Solar Farm near Benalla, which will produce 98.8MW

The 928MW of power produced by these projects is expected to drive a 16 per cent reduction in Victoria’s electricity sector greenhouse gas emissions by 2034/35.

The VRET will ensure that 25 per cent of our electricity generation comes from renewable sources by 2020, and 40 per cent by 2025. It is expected the targets will drive around $9 billion of investment and create more than 11,000 jobs over the life of the scheme.

Despite these benefits, Matthew Guy and the Liberals have committed to scrap the VRET – driving up power prices, putting thousands of renewable energy jobs at risk and jeopardising Victoria’s energy security.

In contrast, a re-elected Andrews Labor Government will invest more than $1.3 billion to put solar panels, solar hot water, and battery systems on more than 700,000 households through the Solar Homes scheme.

To learn more about the successful projects through the VRET auction, go to energy.vic.gov.au.

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