The Australian offshore wind industry is rapidly developing. There are a number of development zones that are being progressed. The map below shows how these are progressing from first announcement by the Federal Government through public consultation and to the point where developers can bid for feasibility licences.
Two zones have made it through to allocating feasibility licenses so far: Gippsland in Victoria and Hunter in New South Wales. The successful developers in these areas now have up to 7 years to gather data, conduct studies, develop management plans, and get approvals.
Despite this progress, there is still a lot to be decided before turbines start turning and power can be purchased. Only Victoria currently has any declared offshore wind targets, 2 GW by 2032, 4 GW by 2035 and 9 GW by 2040. Further, the offtake regimes for individual Australian states are unclear. Again, Victoria leads the way here. It has announced a competitive auction process for power purchase with calls for an expression of Interest expected in early 2025. This will be followed by a Request for Proposal phase in early 2026. However, the details for how this will operate are still being finalised.
Across Australia , areas that still need to be addressed include supply chain constraints, grid infrastructure, local content requirements, port infrastructure, and community benefits. Each state will be evaluating these separately. There’s certainly lots to do. Expertise will be required to ensure offshore wind delivers the most benefit. BVGA’s experience in developing offshore wind industries around the world includes a large amount of learning for those interested in Australian offshore wind. Whether you are state or federal government, developers, or looking to grow your business in the Australian market, we’d be very happy to discuss your needs.
