The first auction for renewable projects to receive revenue guarantees under Labor’s Capacity Investment Scheme was oversubscribed seven times over, with enough bids to comfortably meet the policy’s 32 gigawatt 2030 target.
Energy Minister Chris Bowen will on Monday reveal the first auction for 6 gigawatts of renewable energy received bids from more than 100 projects covering more than 40 gigawatts of renewable energy production.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
