Victorian Labor’s big election promise has had a shaky start, but now says it will start investing in projects the market is still unsure about.
The revived State Electricity Commission will invest in projects the private market is still unsure about as it tries to close a huge gap in the amount of renewable energy needed by 2035 and the current rate of construction.would operate over the next decade, declaring the rate of battery installation in Victoria would need to double to help the state meet its climate targets.
“There’s a need for a pragmatic and bold investor to help with this and light the way. This is where we think this SEC can play a really important role.”“We need to double the current rates of installation of battery capacity across the system,” he said.“We’re here to partner, amplify and accelerate that investment. As a government-owned energy company, I see the SEC as an important bridge between private and public efforts,” he said.
But it differed from Labor’s initial election pledge for the SEC to take a majority stake in each renewable project it funded. The party also committed to spend $1 billion delivering 4.5 gigawatts of power.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Light the way’: The SEC says it will be bold in getting more energy projects builtVictorian Labor’s big election promise has had a shaky start, but now says it will start investing in projects the market is still unsure about.
Read more »
Victorian vet likely obtained ketamine through work before overdosing, Coroner findsA Victorian mother-of-two who overdosed in 2023 likely obtained Ketamine through her job as a veterinarian, a Coroner has found.
Read more »
Ex-Victorian Liberals boss fined $40k over unlawful adsThe commission alleged the former Liberals director breached electoral laws by not properly declaring the ads came from him and the Liberal Party.
Read more »
Former Victorian Liberal Party boss fined $40k over tiny authorisation text on political adsFormer Victorian Liberal Party boss Sam McQuestin is fined $40,000 after a court rules federal election ads printed in a regional newspaper were in breach of laws because the authorisation was too small and difficult to read.
Read more »
Former Victorian Liberals boss fined $40,000 over unlawful election adsA Federal Court judge said a newspaper ad that attacked sitting Labor MP Libby Coker was a serious failure of the rules.
Read more »
Former Victorian Liberals director Sam McQuestin fined $40,000 over federal election adsFederal court rules authorisations on 2022 newspaper ads fell foul of electoral advertising laws
Read more »