Former U.S. vice president Al Gore has launched the Australian state of Victoria's Renewable Energy Action Plan, as it sought to boost its green credentials.

In a statement on Thursday, the government of Victoria said the plan was backed by 146 million Australian dollars ($113.3 million) in funding in order to deliver "more renewable, affordable and reliable energy for Victoria."

Gore spoke to the media in Melbourne, where he rode a tram with Victoria's minister for energy, environment and climate change, Lily D'Ambrosio.

"This is the largest tram network in the entire world, and is now going to be running entirely on solar energy," Al Gore said. "That's fantastic, and I predict that it will become a symbol of the renewable energy revolution worldwide."

Victoria's Renewable Energy Action Plan also includes 25 million Australian dollars to deploy grid scale battery storage facilities, as well as 15.8 million Australian dollars for smart software system, solar and battery storage micro grid initiatives.

"This funding represents the most significant government investment in renewable energy in Victoria's history," D'Ambrosio said. "The Renewable Energy Action Plan will help us deliver affordable, sustainable and reliable energy for Victoria," she went on to state.

Authorities in Victoria have set themselves renewable energy generation targets of 25 percent by 2020 and 40 percent by 2025.