The Victorian Renewable Energy Auction Scheme

The Victorian Government has established the Victorian Renewable Energy Auction Scheme (VREAS) to support achievement of the Victorian Renewable Energy Targets (VRET). These targets seek to ensure that 25 per cent of the State’s electricity generation comes from renewable sources by 2020, rising to 40 per cent of generation by 2025.

The 2017 VRET Auction is now open for bids on the Tenders Victoria website. In this auction, the Victorian Government will award commercial contracts in support of up to 650 MW of new renewable energy generation.

The format of the auction will be a reverse auction, with bids accepted for up to 550 MW of large scale technology neutral renewable energy and for up to 100 MW of large scale solar-specific renewable energy.

Bids from renewable energy projects are to be submitted under a formal Request for Proposal (RFP).

The RFP sets out the detailed terms of participating in the auction, how proposals will be considered in relation to ‘value for money’, and the overall governance framework.

Successful proposals will be awarded a ‘Support Agreement’ with the State of Victoria to ensure revenue certainty for renewable energy projects.

An information session explaining the RFP in detail will be broadcast on 28 November.

The Victorian Government supports local supply chains for all renewable energy projects, and encourages both developers and suppliers to register with ICN Gateway at www.vicrenewables.icn.org.au

Media release: Renewable energy auction to drive jobs and investment

Download Victorian Renewable Energy Targets (VRET) 2017 Reverse Auction Questions and Answers
Download Victorian Renewable Energy Auction Scheme Fact Sheet
Community Engagement and Benefit Sharing – Guide for Renewable Energy Developers

The Victorian Government is committed to strengthening community support for renewable energy projects. As part of the VRET auction the Government has released the Community Engagement and Benefit Sharing in Renewable Energy Development – A Guide for Renewable Energy Developers.

This Guide is directed at renewable energy developers in Victoria. It sets out the Government’s expectations for VRET auction proponents, as well as assisting developers to best engage and share benefits with the communities that will host renewable energy projects.

Note: the accessible version contains the Introduction, Part A and Part B only, which provide a comprehensive overview of community engagement and benefit sharing for renewable energy projects. For an accessible version of all other content contained in the guide, please contact DELWP.