This tender will help 800MWh of initiatives in each South Australia and Victoria, with the remaining 800MWh of capability to be allotted to both state. Chosen initiatives will ship “clear, dispatchable capability to the electrical energy grid earlier than the tip of 2027”.
The Australian Vitality Market Operator (AEMO), along with its subsidiary AEMO Companies, will administer the tender on behalf of the Australian authorities and supply suggestions. After AEMO makes its suggestions, the Australian authorities will choose the initiatives to obtain income help beneath the CIS.
Submission of venture bids will finish on 23 February 2024. The monetary worth of the bids will likely be assessed on the finish of April 2024, and profitable bids will likely be introduced in the course of subsequent yr.
Primarily based on a Contracts for Distinction (CfD) construction, the CIS has been described as one of the vital developments ever seen in Australian electrical energy coverage and the federal government has dedicated to underwriting 32GW of renewables via it.
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