Victorian Renewable Energy Auction Scheme

11 Sep Victorian Renewable Energy Auction Scheme

The Victorian Renewable Energy Auction Scheme has come to a close and successfully underwritten six new renewable projects with a combined generation capacity of 928 MW. The target strike price in the contract has been known since the auction was announced in November 2018. These prices are:

  • $56.52/MWh for wind
  • $53.06/MWh for fixed plate solar
  • $56.85/MWh for single axis tracking solar

It is understood that prices achieved came in around the target prices.

These are some of the most competitively priced agreements in the market. The VIC Government has committed to a 15 year CFD for each of the projects with a price floor of $0.00/MWh. The successful projects are:

  • Berrybank wind farm (GPG Naturgy Group)
  • Carwarp solar farm (Canadian Solar)
  • Cohuna solar farm (KIG Energy)
  • Dundonnell wind farm (Tilt)
  • Mortlake South wind farm (ACCIONA)
  • Winton solar farm (FRV)

If you have any questions regarding the Victorian Renewable Energy Auction Scheme, call Edge on 07 3905 9220 or 1800 334 336.