Victoria Won't Wait, Moves to Off Shore Wind and state government investment with the support of the Australian Federal Government.
Victoria, Australia, will no longer wait for coal companies and energy generators to make up their minds and take action. Energy Minister Lily D’Ambrosio announced this past week that the state will aim for. “By 2035 there will be no dirty coal generation in our state,” the minister said. The transition to renewable energy, particularly offshore wind, will “slash emissions and power bills while supporting 59,000 jobs.” Victoria has three remaining coal-fired power stations.
Victoria’s impatience and frustration with the “market” is reflected in its decision to replace “unreliable, privatized coal” with “clean, government-owned, renewable energy.” The Victorian State Energy Commission will invest in 4.5 gigawatts of new renewable capacity.there will be more than enough opportunity for the private sector to invest, given the need for at least 12 GW of new renewable and storage capacity over the coming decade.
The bulk of new renewable and storage investment will be made in offshore wind, from around 2028 on, and mostly in the years between 2030 and 2035. The state has previously announced targets of 2 GW of offshore wind by 2032, 4 GW by 2035, and 9 GW by 2040. The proposed $30 billion investment in offshore wind “is more than the total that will be spent on all other renewable and storage technologies, including onshore wind, rooftop and utility scale solar and storage, and pumped hydro.
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