The Australian government has approved 21 new wind power projects in the country, 13 of which are already in operation.
Once complete, the wind farms will triple the capacity from 428MW to 1554MW of power within the next two years, according to the government.
The green energy produced from the wind farms is also set to save tens of millions of tons of greenhouse gases.
The government also plans to pass renewable energy target legislation, which will include 20% of total electricity to be renewable by 2020.
Renewable energy company Pacific Hydro already owns several wind farms and is now awaiting renewable energy target legislation from the government before going ahead with projects.
Pacific Hydro executive manager of corporate affairs Andrew Richards said that it had been a long and frustrating wait for the renewable energy target legislation to pass.
"We have been working on getting projects to investment readiness so that we are ready to go," says Richards. "As a company, we hope to triple our capacity in Victoria."
According to Richards, future wind power projects will attract investment of between $3 and $4bn in the state of Victoria.