The largest ever single tender for renewable energy in Australia is now open for bids, with the Capacity Investment Scheme (CIS) aiming to produce 6 GW of new variable renewable energy projects for the ³Ô¹ÏÍøÕ¾ Electricity Market (NEM).
Projects through the Capacity Investment Scheme Tender 1 – NEM Generation (Tender 1) will have a target completion date of 2027 and will boost energy generation as aging coal fired power generators retire and the demand for electricity increases.
Tender 1 is seeking an indicative 6 GW of renewable electricity generation across the NEM. Of this 6 GW, minimum capacity targets across jurisdictions apply:
- New South Wales – 2.2 GW
- South Australia – 300 MW
- Victoria – 1.4 GW
- Tasmania – 300 MW
The remaining 1.8 GW of renewable capacity will be allocated to projects across the NEM based on the merit of the projects.
Tender rounds will run in the NEM approximately every six months until 2027.
Through the CIS, the Australian Government will seek competitive tender bids for renewable capacity and clean dispatchable capacity projects to:
- deliver an additional 32 GW of capacity by 2030
- deliver the Australian Government’s 82% renewable electricity by 2030 target.
Registrations are closing soon at 5pm AEST on 19 June 2024 and project bids will close at 5pm AEST on 1 July 2024.
