Australia is now poised to reap the benefits of its offshore wind and electricity export opportunities, with the Offshore Electricity Infrastructure Bill 2021 passing the Senate.
A recent analysis by the Blue Economy Cooperative Research Centre, published in July, found that Australia has competitive offshore wind resources and that the industry could deliver substantial benefits to our power system, and economic and social benefits to regional communities.
There is growing commercial interest in an offshore wind industry with at least 12 wind farms currently in the early planning stages, including Gippsland’s Star of the South, the most advanced project in Australia.
“This legislation has been a long time coming and investors will be pleased to see that Australia now has the broad regulatory framework for offshore electricity infrastructure projects,” said Clean Energy Council Chief Executive, Kane Thornton.
“This will now need to be swiftly followed by industry consultation on the subordinate regulations that will provide clarity on the implementation of the Act, as well as declarations of suitable areas for offshore electricity development by Minister Taylor.
“Offshore wind can be a boon for our regional economies and revitalise our manufacturing sector, creating jobs with renewable energy. It’s an opportunity that’s long been recognised in the northern hemisphere and the Global Wind Energy Council (GWEC) is targeting 2 TW of offshore wind worldwide by 2050.”