On Tuesday 31 October 2017, Victoria became the first State in Australia to enshrine its renewable energy targets into law. The Victorian Renewable Energy Targets (VRET), legislated in the Renewable Energy (Jobs and Investment) Act 2017 (Vic), seek to ensure that 25 per cent of the State’s electricity generation comes from renewable sources by 2020, rising to 40 per cent of generation by 2025.Renewable energy currently contributes 17 per cent of Victoria’s total installed generation, whilst thousands of households across the State have installed rooftop solar.

The public release of this Request for Proposal (RFP) via the Victorian Tenders Website formally marks the commencement of this reverse auction. In this auction, the Victorian Government will award commercial contracts in support of up to 650 MW of new renewable energy generation.

The RFP is broken into four parts;
* Conditions for proposals
* Specifications
* VRET Support Agreement
* Proponent's Proposal

The RFP contains key information regarding the detailed terms of participating in the auction, all aspects of the design of the auction, technical, eligibility and evaluation specifications, as well as the nature of the State's support over the 15-year Support Agreement. Proponents will also be provided with a range of templates for returnable information outlined in the RFP, including comprehensive financial and technical forecasts.

The successful Proponent(s) will be awarded a ‘Support Agreement’ with the State of Victoria to ensure revenue certainty for renewable energy projects.

Submissions for RFP 336532 must be lodged electronically at www.tenders.vic.gov.au.

For any enquires please use the following email address: VRETauction@delwp.vic.gov.au.