In a major move to boost renewable energy, the Albanese Government has announced Australia's largest-ever renewable energy tender. This national Capacity Investment Scheme (CIS) tender, scheduled for late May, aims to deliver 6GW of new variable renewable energy projects to the National Electricity Market (NEM).
In addition, a new agreement between the Albanese and Minns governments will ensure the supply of at least 2.2 gigawatts (GW) of renewable energy specifically for NSW, enough to meet the energy needs of over 1 million homes. In addition, 300MW of variable renewable energy will be allocated exclusively to projects in South Australia.
This initiative builds on the success of previous efforts, such as the 2023 CIS/NSW Roadmap pilot tender, which is already delivering positive results with six battery and virtual power plant projects generating over 1GW of capacity in NSW and creating 400 jobs.
Going forward, both governments are committed to working together on a single combined tender process for generation infrastructure under the CIS and NSW Roadmaps. This will streamline processes and ensure efficient allocation of resources.
The Reliable Renewables Plan aims to transform Australia's energy landscape by delivering 32GW of new energy infrastructure by 2030, resulting in a reliable 82 per cent renewable grid supported by gas, storage and transmission.
In addition, the expansion of renewable energy initiatives extends beyond NSW, with Western Australian projects targeting 500MW of dispatchable electricity through renewable energy storage, enough to power 45,000 homes.
Collectively, these initiatives underscore a commitment to transitioning to reliable renewable energy sources to ensure a sustainable and resilient energy future.
Keywords: Renewables, Capacity Investment Scheme, Energy Transition