Sourcing renewable energy certificates from new Victorian projects
The Renewable Certificate Purchasing Initiative (RCPI) is a key program under the Victorian government’s Renewable Energy Action Plan.
Through the RCPI, the government committed to procuring renewable energy certificates directly from new Victorian projects, providing the necessary revenue certainty for the project developers to underwrite their projects. The contracts for certificate supply were awarded over two rounds in 2016 and 2017 through competitive tender processes.
The successful projects support the State Government's renewable energy targets and have created hundreds of direct jobs and promoted economic development in regional Victoria
The RCPI has leveraged around $700 million of capital investment and over 350MW of capacity in new renewable energy generation through four projects.
The Bannerton Solar Park was successful through the 2017 Solar Certificate Tender. The 88MW (AC) / 110MW (DC) project near Robinvale in the Sunraysia district was developed by Foresight Solar Australia.
Image of Bannerton Solar Park provided by Foresight Solar
Around 35 megawatts of the generation capacity from the new solar projects is linked to the entire electricity load of Melbourne's tram network each year under the government’s Solar Trams TAKE2 pledge, leading to emissions reductions of approximately 80,000 tonnes each year.
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Page last updated: 13/07/21