Victoria Home To A Renewable Energy Future

23 September 2016

Victoria has strengthened its reputation as a clean energy leader with news the Clean Energy Finance Corporation (CEFC) will establish a permanent office in Melbourne next year.

Victoria has the research and development capabilities, as well as the skilled workforce, to provide the renewable energy sector with confidence to invest in local projects which drive economic growth.

The Labor Government is currently working with CEFC and Monash University to help deliver projects that reduce emissions by leveraging emerging and innovative new technology.

In June, the Government announced new Renewable Energy Targets of 25 per cent by 2020 and 40 per cent by 2025.

The new targets are expected to deliver around 5,400 MW of renewable energy, creating approximately 4,000 new jobs at the peak of construction and bring $2.5 billion of new investment to Victoria.

Last night, Minister for Energy, Environment and Climate Change Lily D’Ambrosio witnessed the signing of a Letter of Interest from the CEFC to Monash University in support of Monash’s Transformative Energy Initiative – which will include new energy technologies and smart microgrids.

A Memorandum of Understanding has also been signed between the Government and Monash University to collaborate on this exciting initiative.

The Labor Government looks forward to working with the CEFC to explore opportunities for collaboration on renewable energy projects.

Quotes attributable to Minister for Energy, Environment and Climate Change Lily D’Ambrosio

“Our ambitious renewable energy targets are bolstering our reputation as a leader in clean energy.”

“We’re striving for a strong, reliable and sustainable energy sector that minimises costs for Victorian households and businesses, creates jobs and reduces emissions.”

Quote attributable to Clean Energy Finance Corporation CEO Oliver Yates

“Microgrids give universities a chance to integrate electricity generation, storage and consumption. This creates a campus-wide grid solution that reduces dependence on the network, lowers energy costs and reduces emissions.”

Quotes attributable to Monash University President and Vice-Chancellor Professor Margaret Gardner

“Monash University is intent on developing innovative solutions to the challenges in energy and climate change facing our world.”

“We’re pleased to work with government and industry on the Monash Microgrid as we develop and advance the latest research to secure our energy future."

Reviewed 19 August 2020

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