Wind Power Reverse Auction and Local Industry Participation
The ACT’s first wind energy reverse auction completed in February 2015 delivered low renewable energy prices and substantial local investment in line with the ACT Government’s Renewable Energy Local Investment Framework.
The three successful bidders made a range of industry development commitments valued at $50 million, in addition to broader economic benefits in excess of $240 million. These commitments included:
- establishing Neoen’s wind farm development and operational headquarters for the Asia-Pacific in Canberra by January 2016;
- establishing Windlab’s global renewables operations hub in Canberra by February 2016;
- establishing a Renewable Energy Innovation Fund with funding of $1.2 million;
- developing a new Master’s Unit in Wind Development at ANU;
- establishing a new Renewable Energy Skills Centre of Excellence at the CIT, to commence in 2016 with the aim of attracting at least 30 students each year;
- researching a combined solar and wind farm with capability to provide near base load energy generation; and
- visiting every Canberra high school to introduce students to renewable energy technology and future jobs.