Renewable Energy Target Auction to Power the State of Victoria

Two men dressed in Hi Vis working on a solar panel

The Victorian Government has launched a Second Victorian Renewable Energy Target Auction (VRET2) for at least 600 megawatts (MW) of new renewable energy capacity in Victoria.

The auction also plays a key role in fulfilling the government’s commitment to source 100 per cent renewable electricity for its own operations by 2025. This includes electricity consumption for Victorian hospitals, schools, police stations, Melbourne’s metropolitan train network and a range of other government infrastructure and services.

VRET2 will help meet Victoria’s legislated renewable energy targets of 40% by 2025 and 50% by 2030.

VRET2 projects are expected to create at least 2,000 new jobs, attract $1 billion in capital expenditure, and put downward pressure on wholesale electricity prices, reducing bills for every Victorian household and business.

The auction is part of the Government’s plan to drive significant investment in all six Renewable Energy Zones located across Victoria and its $1.6 billion investment in clean energy – the largest investment in clean energy of any state government, ever.

Key dates

The VRET2 auction is open from 31 August 2021 and will close on 9 November 2021. The Victorian Government expects to announce the successful VRET2 projects around mid-2022.

Further Information

For more information on the auction visit energy.vic.gov.au/renewable-energy/vret2.

The tender pack is available at the Buying for Victoria website at www.tenders.vic.gov.au.

Media Release https://www.premier.vic.gov.au/more-renewables-help-drive-victorias-economic-recovery

If you have any general questions about VRET2 please email VRET2@delwp.vic.gov.au.

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