The State Electricity Commission (SEC) is back for good - and its second investment is locked in.
Premier Jacinta Allan and Minister for the State Electricity Commission Lily D'Ambrosio today announced the SEC will invest $370 million to build the SEC Renewable Energy Park - a massive solar farm and battery in Horsham.
It will be the first 100 per cent government-owned energy generator in Victoria since the Liberal Party privatised the state's energy system.
The Park will be capable of generating around 242,000 megawatt hours of renewable energy a year - enough to power 51,000 homes. That's five times the number of households in Horsham.
The SEC is partnering with developer OX2 to build the Park, which will consist of a 119-megawatt solar farm and 100-megawatt two-hour battery. Around 246 jobs will be created during construction, including 20 apprentices, trainees, and cadets.
The battery will soak up cheap solar while the sun is shining and deploy it later in the day to push down electricity prices. The battery storage will also allow more renewable generation to come online by storing power until it's ready to be fed into the grid during high demand.
The local community will directly benefit from the profits from the projects. The SEC will set up a community benefits fund and will work with the community to invest $42,000 a year back into the local area during the project's construction, and a further $70,000 every year once the project is operational.
The SEC Renewable Energy Park will come online in 2027 and will be used to provide cheap, 100 per cent renewable electricity to Victorian Government schools, hospitals and offices.
This project marks the second investment by the SEC, from the initial $1 billion invested by the Allan Labor Government to accelerate Victoria's renewable energy build and deliver 4.5 gigawatts of new renewable energy and storage projects - enough to power more than 1.5 million homes.
Construction on the SEC's first investment - the 600-megawatt Melbourne Renewable Energy Hub - is now at the halfway point. It has employed over 650 people to date and is on track to be connected to the grid in 2025, storing enough electricity to power up to 200,000 homes during peak periods.
Once operational, all profits made by the SEC will be reinvested back into renewable energy projects - growing the state's battery storage, wind and solar farms - and putting power back in the hands of Victorians.
As stated by Premier Jacinta Allan
"We're building our future with the SEC - creating jobs, reducing bills and delivering reliable renewable energy across the state."
"Bringing back the State Electricity Commission is all about giving power and profit back to the people."
As stated by the Minister for the State Electricity Commission Lily D'Ambrosio
"The Liberals sold off our energy assets, and they'll ask Jeff Kennett for advice on how to do it again. We're investing in renewable energy projects for people, not profit."
As stated by Member for Western Victoria Jacinta Ermacora
"The SEC has kick started construction on this project and made it bigger and better - delivering more local jobs for Horsham and additional funds for the community to invest in the things that matter most to them."
