Victoria is preparing for the development of the nation’s first offshore wind energy industry, supported by strong wind conditions along the coast.
The Victorian Renewable Energy Terminal at the Port of Hastings will receive $124.5 million in funding to progress planning and environmental assessment work.
The project will go through a full Environmental Effects Statement (EES) process, including community consultation. The assessment will consider environmental impacts and help guide future development.
If approved, the terminal will become a major facility for offshore wind projects. It will allow companies to assemble large wind turbines before transporting them offshore for installation.
Renewable energy has already helped Victoria achieve lower wholesale electricity prices. Offshore wind development in Gippsland could provide more clean energy as older coal-fired power stations close.
The offshore wind industry is expected to help maintain Gippsland’s role as an important energy region for many years.
An auction for the first 2 gigawatts of offshore wind energy is planned to open in August. This amount of energy could supply around 1.5 million homes.
At its peak, the offshore wind industry is expected to create more than 2,370 jobs and attract billions of dollars in investment.
The Port of Hastings project will continue environmental and technical studies to support careful development while protecting important natural areas, including Ramsar-listed wetlands.