Australia Picks BP, Neoen Projects in Biggest Renewables Tender

(Bloomberg) -- Australia selected 19 projects in its biggest renewable-energy tender yet, as part of plans to stimulate a world-leading transition away from an aging fleet of coal-fired plants.

The projects — operated by companies including Neoen SA, BP Plc and billionaire Andrew Forrest’s Squadron Energy — include solar, wind and battery projects totaling 6.4 gigawatts, enough to power more than 3 million households, Energy Minister Chris Bowen said Wednesday. Eighty-four bids were made in the tender, the first major one in the government’s Capacity Investment Scheme that seeks to encourage the building of 32 gigawatts of renewable capacity by 2030 by offering revenue guarantees.

“We had a very strong pipeline of projects, we had many, many more gigawatts bidding for these gigawatts that we’ve awarded today than we could cater for,” Bowen said on ABC Radio. “That shows me that the pipeline of the investments is very, very strong.”

The announcement comes as Australia’s center-right opposition Liberal Party ramps up its criticism of the Labor government’s energy policies ahead of an election due by May 2025. Opposition leader Peter Dutton has raised concerns over large renewables projects, called for the dumping of the 2030 emissions target and pledged to introduce nuclear energy if he wins power.

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