The Australian Ministry for Climate Change and Energy has announced 19 new renewable energy projects that will add 6.4 GW of clean energy to the National Electricity Market (NEM). These projects were selected through the Capacity Investment Scheme (CIS) Tender 1 and are spread across the states of New South Wales, Victoria, South Australia, and Queensland. Together, they are expected to generate enough electricity to power three million homes.
The projects include a mix of solar and wind energy, with solar projects accounting for 1651 MW and wind projects for 3,040 MW. Additionally, there were also some storage systems awarded, including one wind plus battery energy storage system (BESS) with a capacity of 585 MW/800 MWh and seven solar plus BESS projects with a combined capacity of 1099 MW/2,762 MWh. These projects are expected to begin operating between 2026 and 2028.
The CIS aims to incentivize the deployment of 32 GW of renewable energy by 2030, in line with the Australian Government’s goal to reach a power mix with 82% renewable energy. This announcement is a significant step towards achieving this target and reducing the country’s reliance on fossil fuels. It also demonstrates the government’s commitment to transitioning to a cleaner and more sustainable energy future.
The addition of 6.4 GW of renewable energy to the NEM will not only help reduce carbon emissions but also create new job opportunities and drive economic growth. It will also improve the reliability and stability of the grid, as renewable energy sources are becoming increasingly cost-competitive and can provide a more diverse and resilient energy mix.
Overall, this announcement is a positive development for Australia’s renewable energy sector and the country’s efforts to combat climate change. It sets a strong foundation for further investments in clean energy and paves the way for a greener and more sustainable future.