The Australian Government has announced the launch of two new Capacity Investment Scheme (CIS) tenders in Western Australia. The tenders are expected to unlock 1.6 GW of new renewable generation backed up by 2.4 GWh of clean dispatchable capacity to the Australian Wholesale Electricity Market (WEM), enough to power more than 900,000 households annually and enough storage to cover the peak load of 550,000 households for 4 hours. Investors will have ten weeks to submit their bids, which will be assessed on deliverability and value for money, as well as on their contribution to grid reliability, the strength of their engagement with First Nations communities, and binding commitments to deliver shared benefits.
The CIS is a key element to achieve Australia’s target to deliver 82% renewables by 2030 through the deployment of 40 GW of new renewable capacity across Australia by 2030. Previous rounds that have secured 19 agreements worth 5.85 GW of capacity nationally.
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