An historic transition to clean energy is unlocking substantial investment opportunities.
With a thriving renewable energy sector, abundant natural resources and a committed energy target, major opportunities exist in Victoria for global investors to launch profitable innovations that meet a 50 per cent clean energy target by 2030.
Boosted by a $1.6 billion energy package designed to further expand renewable energy hubs and projects, Victoria’s rapidly growing renewable energy sector is now harnessing global expertise to help create a decarbonised energy sector.
1. Invest Victoria and AlphaBeta – Australian Technology Modelling Report 2020
Unprecedented opportunities in Victoria’s clean energy sector
Established and developing investment opportunities have opened for innovations in renewable energy, supply chain technology and energy infrastructure. Click on the below to find out about opportunities including:
Launch renewable energy projects
- Benefit from innovative renewable energy opportunities in wind and solar. The Victorian Government is supporting projects that decarbonise our energy system and drive down emissions
- Develop products in a burgeoning domestic and export hydrogen market. Victoria's hydrogen market is backed by an extensive natural gas network, abundant renewable resources and export connections to Asia
- Access opportunities to harness organic residue for biomass feedstock and waste-to-energy investments. Victoria produces around 10 million tonnes of organic residue each year
Develop supply chain services
- Modernisation of the electricity grid. The Victorian Government is working to improve the reliability and security of power supply by storing cheap renewable energy when the weather makes it plentiful, and discharging it into the grid when it is needed most
- Development of new infrastructure. The Victorian Government is laying the foundation for services that will change how energy is traded and consumed across the state, ensuring capacity for more renewable energy that withstands future climate change impacts, including more high-demand days during summer
Provide new storage technology
- New storage technologies. Victoria is providing new ways to deliver and manage power, from electric battery technologies to energy generated from pumped hydro sites
- Electric vehicle charging infrastructure. The Victorian Government is providing substantial investor support to fast track the rollout of vehicle charging infrastructure across the State, providing a significant opportunity in this growing market
Case studies: Clean energy
Why choose Victoria for your clean energy project?
Victoria’s clean energy sector is positioned for unprecedented growth
With strong government support and unrivalled resources, talent and infrastructure, Victoria’s clean energy sector is the perfect development and launching ground for innovative solutions.
Victoria is home to:
- abundant in the natural resources necessary for clean energy
- Solar: Australia has the highest solar radiation per square metre of any continent in the world
- Wind: Meso-scale maps show Australia's greatest wind potential is along Victoria’s coast
- Marine: World-class marine energy is located close to supporting energy infrastructure
- There are over 30 bio-energy facilities ranging in size from 110 kW up to 194 MW in capacity
- We have an advanced manufacturing base with everything from wind towers to solar hot water systems made locally
- strong support for renewable energy, including Australia’s largest ever renewable energy auction, delivering 928 MW of large-scale generation capacity
Leverage Victoria’s world-leading clean energy capabilities
Victoria’s clean energy industry is supported by large scale R&D infrastructure including:
- Bulgana Green Power Hub - The Bulgana Green Power Hub consists of a 194 megawatt (MW) wind farm and a 20MW/34 megawatt hour (MWh) battery
- Alternative Energy Group - The Alternative Energy Group carries out research on biofuels, wind and solar energy, desalination techniques, and environment protection and wastewater treatment
- Centre for Evaluation of Clean Energy Technology (CECET) - Launched in partnership with the New York State Energy Research and Development Authority, this research centre is dedicated to the advancement of clean energy technology for product developers, manufacturers, and investors in the renewable energy industry
- The Energy Institute The University of Melbourne’s Energy Institute delivers influential research on the transition to a clean energy system, working with community, industry and government.
- Victoria-Suntech Advanced Solar Facility, a collaborative venture between Swinburne University and Suntech Power Holdings
- Centre for Technology Infusion - La Trobe University’s Centre for Technology Infusion develops collaborative relationships with global partnership stakeholders including universities, research institutes, governments and industry
- The Victoria Institute of Strategic Economic Studies (VISES) - established within the Institute for Sustainable Cities & Liveable Cities and incorporating the Victoria Energy Policy Centre, the VISES is a multidisciplinary group that conducts core research in renewable area
- Institute for Frontier Materials - Deakin University’s Institute for Frontier Materials brings together researchers from all over the world to research and develop innovations in chemistry and engineering, including future energy technology and storage
- Victorian Hydrogen Hub (VH2) - the $10 million Swinburne University of Technology Victorian Hydrogen Hub (VH2) will be a major national precinct designed to explore new hydrogen technologies, clean energy vehicles and hydrogen storage containers
Some of Victoria's ongoing clean energy projects include:
- The world-first Hydrogen Energy Supply Chain (HESC) Project aims to safely produce and transport clean liquid hydrogen from Australia’s Latrobe Valley in Victoria to Kobe in Japan
- The Cooperative Research Centre for Greenhouse Gas Technologies’ Otway Project is the country’s first demonstration of the deep geological storage of carbon dioxide. The project provides technical information on geosequestration process, technologies
- The Victorian Organic Solar Cell Consortium, a collaboration between industry and academia, that aims to produce prototype organic solar cells with potential to print directly onto materials such as roofing and windows
- The University of Melbourne industry partnership with Geotechnical Engineering and Direct Energy, which is piloting direct geothermal heating and cooling in around 30 buildings across the state, including residential, industrial and commercial buildings
- Hot Dry Rocks research into geothermal heat profiles at shallow depths in the Latrobe Valley in Victoria which may demonstrate the commercial potential of using moderate temperature in shallow wells to generate electricity
- The Solar Systems large-scale pilot demonstration plant in Mildura, which is the largest concentrated photovoltaic facility of its kind in Australia
Learn more about the Renewable energy investment opportunities in Victoria below.
World class expertise and a pipeline of talent
Victoria produces a deep pool of talent and approximately one third of Australia's graduates from key disciplines.
- Melbourne is home to some of the world’s best universities, with five ranked in the world’s Top 100 universities1
- The University of Melbourne is the highest ranked university in Australia and the fourth highest in Asia-Pacific2
- Victoria’s universities have outstanding employability outcomes, with three ranked in global Top 100 and the University of Melbourne ranking 7th in the world3
- Victoria producing more graduates in Agriculture and Environmental Studies and Natural and Physical Sciences than any other location in Australia4
- As Victoria's world-class universities produce more graduates than other states in fields such as engineering and ICT4
- IMD World Talent Index has ranked Australia third in the Asia Pacific for talent. This strong performance reflects our high-quality universities and education standards
Learn more about renewable energy investment opportunities below.
1. QS World University Rankings, 2021
2. Times Higher Education World University Rankings 2021
3. QS World University Rankings, Graduate Employability Rankings 2020
4. Linkedin National Employment Report, September 2020
Unrivalled Victorian Government support for industry and foreign investors
The Victorian Government has an unprecedented A$1.6 billion energy package designed to create renewable energy hubs across the state, improve crucial grid infrastructure, decarbonise our energy system, drive down emissions and support more Solar Homes.
The package includes A$540 million to establish six Renewable Energy Zones, unlocking new renewable energy investment that will support economic growth and jobs, and ensure Victoria meets its 50 per cent renewable energy target by 2030.
The Victorian Government has also announced a number of initiatives to attract global investors, including:
- ·Up to $50 million in low-interest loans to support innovative Victorian SMEs in developing the products, services and technologies vital to the State’s future economy
- A$25.75 million over four years to establish the Venture Growth Fund which will see Victorian Government co-investing with institutional investors to give high growth start-ups access to the capital they need to expand their business and create new jobs
- a A$20 million New Energy Jobs Fund, which offers grants to firms specialising in the new energy technology sector
Learn more about The Energy Innovation Fund below.
We can help you with your next market entry project
If you are considering investing in Melbourne, we can help you scope the market opportunity in Melbourne/Australia and assist you with your business case development.
Working with us will allow you to be fully informed and limit the number of surprises associated with your new investment. Our staff are experienced and well connected and can introduce you to potential partners to help make your investment a success.
|UK and Europe |
contact Tim Dillon
Agent General, UK
|US enquiries |
contact Nigel Warren
|SE Asia enquires |
contact Rebecca Hall
South East Asia
|All other enquiries |
contact Craig Harrison
Or go to our All Offices page to find your nearest Invest Victorian representative.