VRET2 target at least 600 megawatts (MW) of new renewable energy capacity in Victoria. The design of VRET2 has been informed by key findings from the VRET2 market sounding process that took place over September to October 2020.
The energy generated by the VRET2-supported projects will match the Victorian Government’s electricity consumption for Victorian hospitals and schools, Melbourne’s entire train network and a range of other government infrastructure and services.
VRET2 will contribute to the government’s commitment to source 100% renewable electricity for its own operations by 2025, which will drive a deep reduction in the government’s current greenhouse gas emissions footprint.
VRET2 will also contribute to the achievement of Victoria’s legislated renewable energy targets of 40% by 2025 and 50% by 2030, and support the state’s economic recovery from the coronavirus (COVID-19) pandemic.
The auction tender documentation will be released around Q3 this year. Further information about the tender will be provided when it is available. If you would like to receive updates on VRET2, please register at the bottom of this page.
VRET2 fact sheet
Frequently Asked Questions (FAQs)
VRET2 Market Sounding
In September 2020, the Victorian Minister for Energy, Environment and Climate Change announced a market sounding process to test industry interest and capacity for new renewable energy projects. The market sounding process included the release of a public consultation paper as well as a series of targeted meetings with industry and community organisations.
Market Sounding Consultation paper
The Department of Environment, Land, Water and Planning (DELWP) released a consultation paper that provided an opportunity for parties to provide input and share perspectives on matters to inform the auction design. These matters include:
- contracting arrangements
- dispatchability and energy storage solutions
- network support services
- economic development
- social licence and community engagement
Market Sounding frequently asked questions
Market Sounding disclaimer
The market sounding was intended to be an information gathering exercise and is not a part of any formal procurement process.
DELWP engaged PricewaterhouseCoopers (PwC) to conduct targeted meetings on behalf of the department. Due to time constraints, DELWP had to limit the number of organisations PwC could meet with as part of the formal market sounding process. Involvement in market sounding meetings will not advantage or disadvantage an entity in any future auction process.
It should also be noted that the source of information, for example, through meetings or through written responses will have no bearing over the importance given to the information by DELWP.
Register your interest in VRET2
If your business would like to be notified when more information becomes available about VRET2, please register your details below.
Page last updated: 07/06/21