The Australian government has announced its plans to expand by 25% its capacity investment scheme (CIS) to support the construction of 40 GW of large-scale solar, wind and storage by 2030. The increase represents an additional 8 GW to the previous goal of 32 GW, of which 5 GW should be assigned to storage and 3 GW to new renewable generation capacity. The scheme has had 6 oversubscribed tenders, and it has allocated 18 GW of generation and dispatchable storage projects so far.
In addition, the Australian state government of New South Wales has launched a tender for projects that deliver up to 500 MW of firm capacity, enough to power around 200,000 homes. The tender seeks to sign infrastructure like batteries, gas generation and virtual power plants (VPPs), to support the grid during times of peak demand. The tender is a measure to meet NSW’s energy security target, since it is forecast to face shortfalls of firm capacity for the summer of 2027-2028.
Australia has a goal to reach 82% of grid electricity coming from renewable energy by 2030 and to reduce by 43% its GHG emissions compared to 2005 levels.
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