Renewable Energy Investment Schemes - Queensland, SA Power Ahead

Posted: 30/08/17 13:45

Renewables wind farm - Australian Tenders

Renewable energy investment schemes by state governments continue to make news in the world of tendering as funds are committed to programs and expressions of interest are announced in Queensland and South Australia. 

There has been significant interest in Queensland's Renewables 400 program with over 200 businesses registering interest so far. 

Queensland Treasurer and Acting Energy Minister Curtis Pitt said the momentum in renewable energy investment in Queensland is 'unprecedented'.

“Under this new initiative, we will support companies wanting to build the next generation of large-scale renewable and energy storage projects in Queensland. Industry have until 5pm today to register their interest and be a part of the continued renewable energy boom," Mr Pitt said. “An expression of interest process will open this week, on Thursday 31 August.” 

Mr Pitt told The Australian Financial Review that been no decision to legislate the target and it remains aspirational. The program includes a focus on energy storage. 

“As part of the Renewables 400 process, and to support the accelerated deployment of this technology, the Queensland Government is undertaking a specific process to secure up to 100 megawatts of energy storage prior to 2020,” he said. 

Mr Pitt said that under the reverse auction process, companies would bid for Queensland Government support for both renewable generation and storage projects – most of which will be situated in the regions. 

“Successful bidders will be awarded financial contracts with the Government for some or all of the electricity they generate which will provide them with long-term certainty allowing them to secure the financing required to deliver their project,” he said. 

“The ‘reverse’ nature of the auction process means that companies are encouraged to bid for the lowest price necessary to support their project. 

“The criteria to select successful bidders will include not only price but also support for local businesses and jobs and with a view to creating a diverse mix of renewable energy generation and storage to support a secure, reliable and affordable supply of electricity into the future.” 

Expressions of Interest for the Renewables 400MW process open on Thursday 31 August. For more information on the or to submit an EOI visit Queensland Department of Energy and Water Supply

In South Australia the State Government has issued three calls for the next generation of renewable energy projects as part of the $150 million Renewable Technology Fund.

Investment Guidelines have been released and calls are now open for projects that will deliver clean, reliable and affordable power in the following categories:

  • Firming renewable generation - e.g. incorporating storage or other equipment into existing or pending wind or solar developments for increased inertia and system stability
  • Bulk energy storage - e.g. pumped hydro, compressed air, thermal storage or virtual power plants
  • Bioenergy - e.g. energy produced from agricultural wastes or by-products

Applications are open until 5pm on Thursday 28 September 2017, with successful applicants expected to be advised before summer.

In March, the State Government announced its $150 million Renewable Technology Fund as part of the energy plan South Australian Power for South Australians.

The fund comprises $75 million in grant funding and $75 million in loans or other forms of investment or assistance for eligible projects, to support private innovative companies and entrepreneurs.

A portion of the fund has already been allocated towards the grid-scale battery storage project currently being built by Tesla and Neoen near Jamestown.

"We’ll soon be home to the world’s largest lithium ion battery at Jamestown and the ground-breaking solar thermal project at Port Augusta, Premier Jay Weatherill said. "Now we’re looking for the next generation of renewable technologies and demand management technologies to maintain our global leadership."

Victoria has taken the step of introducing legislation for Victorian Renewable Energy Targets (VRET) and have tenders current for developers and suppliers.

Premier Daniel Andrews joined Minister for Energy, Environment and Climate Change Lily D’Ambrosio announced the introduction of the legislation, setting ambitious new renewable energy targets for Victoria of 25 per cent by 2020 and 40 per cent by 2025.

Households in Victoria will only see a drop of around $30 annually in their energy bill. Businesses will potentially see greater benefits of up to $140,000 a year.

Tenders and opportunities for renewable technology can be found at Australian Tenders. Subscribe to free news updates to stay tuned in to tenders, contracts and future opportunities news.

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