The government of the Australian state Victoria has issued a request of proposal inviting bidders to develop at least 600 MW of renewable energy projects under the Second Victorian Renewable Energy Target Auction (VRET2). The estimated investment for the projects is $1 billion. The bid submission deadline is November 9, 2021.

The Victorian government’s power demand for schools, hospitals, Melbourne’s train network, and other government infrastructure and services would be met by power provided by these renewable energy projects. The state is also expected to create nearly 2,000 new employment opportunities.

The projects supported by VRET2 will also help the state fulfil its renewable energy targets of 40 per cent by 2025 and 50 per cent by 2030, as well as the government’s pledge to obtaining 100 per cent renewable electricity for all operations by 2025. By imposing downward pressure on wholesale power rates, lowering power bills for every household and business in the state.

Victoria’s government stated last year that it will invest $191 million to extend its solar housing programme. Over the next two years, the scheme will assist 140,000 households to install solar panels on their rooftops with no upfront costs by providing 42,000 solar incentives. Small businesses will be eligible for 15,000 solar rebates as part of the initiative. In addition, during the next three years, the government plans to grant battery subsidies to 17,500 households.