Big Step for Australia's First Floating Offshore Wind Project

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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Australia's first floating windfarm has taken a big step closer to being built following the award of a feasibility license from the federal government.

The proposed Novocastrian project will be located in the New South Wales Hunter region, an area which covers 1,800 square kilometers (km) zoned for offshore wind development. Developers Oceanex Energy (Melbourne, Australia) and Norway's state-backed Equinor (NYSE:EQNR) (Stavanger, Norway) are planning a 2-gigawatt (GW) windfarm comprising 15-megawatt (MW) turbines located 20-30 kilometers (km) offshore using floating foundations. Assuming the feasibility testing is successful the developers will apply for a commercial planning permit before construction can start in 2028.

The Novocastrian project was the only one of eight offshore projects that applied for permits in the Hunter zone to get a feasibility permit. It will cost an estimated $3.2 billion to construct and when completed will be capable of powering up to 1.2 million homes or, as the government highlighted, two Tomago aluminum smelters located at Tomago on the Hunter coastline, which is the largest consumer of electricity in the state of New South Wales. It would employ around 3,000 workers during construction and create around 200--300 permanent local jobs. The government said it would inject development expenditure "worth hundreds of millions of dollars into the Hunter region and leverage existing heavy industry".

"The Hunter has been an industrial and economic powerhouse for generations, and my decision today is a big step towards providing that powerhouse with reliable renewables," said Minister for Climate Change and Energy Chris Bowen. "The project I've shortlisted offers the biggest rewards for the Hunter and Australia--supporting our workforce and energy security, protecting our environment and sharing our marine space with the people and industries who rely on it today."

Oceanex stated: "We are proud to have been preliminarily granted a feasibility license for the Novocastrian Offshore Wind Farm. Many years of hard work and commitment have brought us to this point and we very much look forward to continuing to work with the great people of the Hunter, the Traditional Owners and all stakeholders to continue to develop the offshore wind industry in Australia, and at this moment in particular, to bring significant growth, opportunity and regional economic benefits to the Hunter."

Unlike onshore wind, Australia's offshore wind energy sector is in its infancy but will play a key role alongside onshore wind and solar in the country's ambitious energy transition. Six regions have been proposed for offshore wind development with four having been formally declared: Hunter and Illawarra in New South Wales and Gippsland and Southern Ocean in Victoria. Industrial Info is tracking 32 offshore wind projects in Australia with a combined investment value of more than $128 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the report.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).