Vret Support Agreement

The RFP contains important information on the detailed conditions of participation in the auction, all aspects of the auction organization, technical specifications, eligibility and evaluation, as well as the type of state assistance during the 15-year assistance agreement. Supporters also include a series of models for return information described in the PSP, including comprehensive financial and technical forecasts. “It`s simple – a greater supply of renewable energy means lower electricity prices and more jobs for Victorian families,” Andrews said in a statement. “We are making Victoria the renewable energy capital and supporting the thousands of jobs it creates.” Council of the Victorian government in the negotiation and completion of two projects that are part of the energy target of Victorian Counter-Target. The Reverse Auction wanted to support 600 MW of renewable projects and resulted in contracts for 6 projects with a total capacity of 900 MW. We negotiated and concluded assistance agreements for winton Solar Farm and the Mortlake South Wind Farm. Not only is the auction stagnating with lower electricity prices for the state, but this auction and the latest rooftop solar aid program bring as many emission reductions as the federal government had anticipated with the national energy guarantee that no longer exists over a entire decade. Today, the Morrison government has abandoned all attempts to reduce emissions. The Victorian government has launched the Victorian Renewable Energy Auction Scheme to support the achievement of the Victorian Renewable Energy Targets (VRET). The government has increased the VRET to 50% by 2030. Successful projects for the first auction were announced on Tuesday, September 11, 2018.

The public publication of this Request for Proposal (RFP) via the Victorian Tenders website officially marks the beginning of this reverse auction. In this auction, the Victorian government will award commercial contracts to support up to 650 MW of new renewable energy generation. The projects will not provide electricity to the government, but under an agreement known as a “contract for difference,” the Government of Victoria will ensure that projects receive a minimum price. The process will examine the industry`s appetite for more than 600 MW of new solar, wind and other renewable energy projects. The government intends that the projects, once provided, will generate enough electricity to power every hospital and school in Victoria, Melbourne`s rail network and a number of other Victorian government infrastructure and services. “The Victorian auction system is a well-designed policy that will save consumers money on their bills, while providing investors with the security they sorely need in the three wind farms and three large solar panels announced today. Dundonnell`s 336 MW wind farm, the largest of the winning projects, was widely expected – notably by owner and developer Tilt Renewables, who recently announced a proposal by its two largest shareholders, Infratil and Mercury, to take the company privately because it would be easier to raise capital.