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 Reverse Auction called for bids from renewable energy projects, submitted under a formal Request for Proposal (RFP).

This included the request for bids for up to 550 MW of large scale, technology neutral renewable energy, and up to 100 MW of large scale solar-specific renewable energy.

The Victorian Government will award commercial contracts in support of up to 650 MW of new renewable energy generation to successful proponents.

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

The auction is now closed.

An information session was held on 28 November at Melbourne Museum. A recording of the session is available, as well as the presentation slides and Q&A from session (below).

Media release: Renewable energy auction to drive jobs and investment

Download VRET 2017 Auction Industry Briefing Q & A and Presentation - 28 November 2017
Download VRET 2017 Auction Questions and Answers
Download Victorian Renewable Energy Auction Scheme Fact Sheet

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

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 new renewable energy projects.