Australia’s capital looks for major investment in renewables to meet 100% target

Photo: Australian Trade Commission

Australia’s capital, Canberra, is set for a large-scale renewable-energy auction to guarantee its 100 per cent renewables target into the mid-2020s.

The auction will open for bids on 15 November and remain open until early 2020. It will accept bids from any suitable renewable electricity source that can provide up to 250 megawatts of capacity.

The Australian Capital Territory (ACT) is a major destination for investment in world-class clean energy. To meet its existing energy target, the ACT government has already attracted more than A$2 billion of investment in large-scale renewables.

Currently, more than 100 megawatts of solar generating capacity is operational within the territory, with four large solar farms within 30 minutes’ drive of central Canberra.

Australia’s largest community solar farm is under development at Majura Valley. The three-hectare facility will consist of 5,000 solar modules, generating power for approximately 250 Canberra homes.

The ACT is one of the fastest-growing areas in Australia, with an economy expanding by 12% over the past three years. The population, currently 440,000, is also rising briskly.

The upcoming auction – which will be conducted as a reverse auction – offers ten-year contracts. Successful bidders will be required to invest in a grid-connected battery located in the ACT.

Successful bidders will also need to contribute to the ACT’s renewable energy industry and engage with local communities.

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