Offshore Energy is working with the Commonwealth Government to obtain rights to allow it to investigate the chosen site, within the Commonwealth Government’s jurisdiction, to determine the feasibility of developing the Project.
The Project, if determined feasible and constructed, will have a capacity of at least 2,000MW and be connected via 95km of undersea and underground high voltage transmission cables (4 cables each of 500MW capacity) directly to a strong connection point on the Victorian grid in the Latrobe Valley.
Detailed studies have already been undertaken over a number of years that indicate that the Project will provide a unique opportunity to develop a project of size, scale and quality.
The Project will involve:
- Upgrade and expansion of existing nearby port facilities to enable construction and later operation and maintenance of the wind farm.
- Construction of at least two offshore substations and a network of cables to connect the turbines.
- Construction and assembly of up to 250 turbines located at depths ranging between 20 metres and 40 metres.
- 95km route for each of the four x 500MW, underground and undersea transmission cables.
- Utilisation, where possible, of existing transmission infrastructure and land rights.
Benefits of the Project
The Project has many benefits from an economic, social, energy, security and environmental perspective for Australia, Victoria, Gippsland and other local communities. These benefits include:
- During the exploration period, the Project will involve committed expenditure of approximately $25,000,000 and involve many local and Australian businesses in undertaking work to help develop the Project. In the longer term, if the Project is constructed, it will have a capital cost of construction of approximately $8,000,000,000 and involve the employment of approximately 12,000 people (directly and indirectly) in the construction of the Project and approximately 300 people during the operation and maintenance of the Project (a minimum of 25 years’ operation).
- Assisting in the orderly transition of skillsets from existing industries into a new industry and ensuring social stability by keeping generations of families and prosperity within the region, especially the Latrobe Valley.
- The Project, if constructed, will ensure that energy generation capacity reductions will be replaced, helping contribute to the security of energy generation in Victoria and connected markets.
- The Project, if constructed, will contribute towards Australia meeting its national and international climate change targets committed most recently to in the Paris Agreement in December 2015 and as provided for in local renewable energy targets.
- Creation of a supply chain, and economic hub, that will service the Project and new and related industries into the future.
- High yielding wind regime that aligns with peak electricity demand that will provide a consistent electricity generation source.
- Utilisation, where possible, of existing electricity transmission infrastructure and abundant available grid capacity in eastern Victoria.