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new wind farm financially as part of renewable energy schemes

As part of the initiative to improve on renewable energy development in Victoria, the Andrews’ Government will be supporting the new Victorian Wind farm financially.

Premier Daniel Andrew is yet to release a government “road map” for the clean energy sector, which will include a minimum territory RET as well as other solar energy initiatives.

In addition, the government is committed to purchase “renewable energy certificates” in order to support and motivate some new wind energy projects to be constructed in Victoria.

The move will include the construction of a $200 million adequate 100 MW of novel wind farm in the state. The analysis from the Government indicates that there is 2400 MW worth Victorian projects that have been confirmed but will be constructed later. .

The announcement comes with a rocky 18-months for the sector that has realised the collapse of new projects in Australia.

The decline was mainly due to the uncertainty generated by the Abbott Government’s agenda to reduce the nation’s RET. Prime Minister Tony Abbott has so far been very harsh towards wind energy, describing wind turbines as “visually awful” and noisy.

Victorian Energy Minister Lily D’Ambrosio stated that the government will apply its “purchasing power to boost the local economy and Victoria’s renewable energy supply”.
“These projects will promote job creation and economic development especially in regional Victoria where renewable energy projects are located,” Ms D’Ambrosio stated.

Certificates are awarded to wind turbines for the energy produced with regard to the national renewable energy target.

Energy companies are then required to buy these certificates and hand them into the federal government each year, giving renewable energy projects an extra source of revenue beyond the electricity they sell.

The Andrews’ Government indicates it will manage its own tender to purchase approximately 1.6 million renewable energy certificates from new Victorian projects. But they are not going to declare a completed scenario of how the tender will perform within so many weeks.

The Andrews’ Government declares this initiative will be less expensive since it is going to neutralize certificates it is already paying for in about half its existing normal contracts with energy companies. But this will indicate that these certificates emanate from new projects in Victoria, and not from any other projects.

The Victorian Government’s ‘road map’ a way into a full-scale renewable energy target, which will be announced later this year.

Leigh Ewbank, a campaigner with the group Yes 2 Renewables, stated that the government should also focus on ACT state where there is successful auction programmes going on.

“The plan to buy certificates was a start, but a Victorian renewable energy target was needed to unlock the large number of wind projects planned for the state that are yet to get off the ground.” Leigh stated.

 

Source
T. Arup, August 21, 2015. Victorian government to back new wind farms as part of renewables plan: http://www.theage.com.au/victoria/victorian-government-to-back-new-wind-farms-as-part-of-renewables-plan-20150820-gj3wga.html [Accessed August 21, 2015]

AUTHOR: DOUGLAS YEBOAH

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