![]() Star of the South, also off Gippsland, is the country’s most advanced offshore wind project. but we expect that as the industry establishes we will see that come down.” ![]() “I think the first projects in Australia are going to need some price support. “In some other regions of the world, the low-hanging fruit – the really good sites for offshore wind – have already been developed,” Sanders says. That’s because more developed markets have prices for power generated from proposed offshore wind farms locked in from previous years which do not take into account the surge in costs felt by the sector more recently. She is among those that say a spate of cost inflation which has derailed planned projects in the United Kingdom, United States and Taiwan among other countries should be less of an issue here. “Offshore wind is the next frontier the energy transition can really bring new life into the region,” says Carolyn Sanders, head of operations at Japanese-owned Flotation Energy, which is planning the $6.5 billion Seadragon project 20 to 40 kilometres off the coast between Paradise Beach and McGauran Beach. Some 37 proposals for wind farms off the coast of Gippsland are under consideration. Surging costs have foiled ambitions by Sweden’s Vattenfall, Denmark’s Orsted and Spain’s Iberdrola for major projects in markets much more mature for offshore wind than Australia.īut none of this appears to have dampened the enthusiasm for turning Victoria’s sleeping Gippsland into the next global hotspot for the industry.Įnthusiasm for what is regarded as an area with a virtually unparalleled combination of attributes – from an untapped “world-class” wind resource to shallow waters and nearby grid connections, as well as a clear need for more dependable clean energy – remains unabated. In recent weeks some of the world’s largest renewables developers have started to become more cautious about committing to huge offshore wind farms. ![]()
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