The international offshore wind energy market is taking off, with hundreds of projects totalling 35 GW worldwide in operation1. With abundant wind resource and available area, Australia’s offshore wind industry is emerging consistent with the global market.
Australia is benefiting from building on both the international market experience, and that of the established offshore petroleum/gas industry, to develop a regulatory framework and link with supply chains. With respect to regulation, at this stage, the primary legislative package comprising the Offshore Electricity Infrastructure Act 2021 and Offshore Electricity Infrastructure (Regulatory Levies) Act 2021 has been released. Following the primary legislative package the Commonwealth government has also released a supporting legislative package including draft regulations and guidelines that provide more detail around the Act’s requirements.
The legislation commenced on 2 June 2022, while the Regulations are being released in stages. At present the Regulations comprise only 26 pages but provide a framework for various licencing schemes.
With the closure of coal fired generators, Australia has its sights on becoming a renewable energy superpower. The development of an offshore wind industry will be a critical component in achieving this goal.
For more information on the developing Australian offshore electricity legislative framework, and to understand how EPS can assist your offshore wind project or portfolio, please don’t hesitate to contact us.
1 Global Wind Energy Council. (9 September 2021). Global Offshore Wind Report 2021. https://gwec.net/wp-content/uploads/2021/09/GWEC-offshore-wind-2021-updated-1.pdf