The Australian Government has set a two-tier target to increase the state of Victoria’s renewable energy levels: 25% by 2020, 40% by 2025, per this article by the Sydney Morning Herald. At current, approximately 10% of Victoria’s power is supplied by renewable energy sources.
To meet the goal, Victoria announced that they will put out a tender to supply power to 389,000 households in Geelong, Ballarat, Bendigo, and the Latrobe Valley (650 megawatts of power). The tender is anticipated to increase Australian corporations’ investment in renewable energy projects by approximately $1.3 billion.
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