The Australian state of Victoria has set a 25% renewable energy target for 2020 rising to 40% by 2025.
The government will introduce auctions to boost A$2.5bn investment in the industry to drive 5.4GW of new capacity.
A series of technology-neutral and solar auctions to provide long-term contracts for projects are expected to start next year.
The proposals will form the main part of Victoria’s Renewable Energy Action Plan to be released later this year, the government said.
“Growing renewable energy means growing jobs, and we want a big boost to both right here in Victoria,” Victoria Premier Daniel Andrews said. “The world is shifting to renewable energy – it creates jobs, drives growth, and protects our environment – and Victorians want to be at the forefront of that.”
The announcement follows recent planning law reforms encouraging the development of wind farms, Vestas said in a separate statement.
“The announced reforms should help trigger the development of new Victorian wind farms, as wind power remains the lowest cost source of large scale renewable energy,” Vestas Australia managing director Danny Nielsen said.
Image: Vestas
