The Australian Government granted a license to Ocean Winds, a joint venture between EDP Renewables and Engie, for offshore wind energy development.
This license allows for the potential development of up to 1.3 GW off the coast of Gippsland, reinforcing EDP’s dedication to Australia. Ocean Winds, established as a partnership between EDP Renewables and Engie, specializes in offshore wind energy on an international scale.
The Australian Government has awarded the company a feasibility license for a 150 square kilometers area off the coast of Gippsland, Victoria, marking a significant step in the development of an offshore wind farm.
The High Sea Wind project, boasting an installed capacity of 1.3 GW, is equivalent to powering 1 million Victorian households with electricity for a year. This initiative will prevent up to 5.3 million tons of CO2 emissions annually, in line with Victoria’s offshore wind objectives.
By undertaking this project, EDP reinforces its investment in Australia, a market it recently entered through the acquisition of ITP Development (ITDP) by EDP Renewables. ITDP holds a portfolio of wind, solar, and storage projects.
EDP Renewables has 1.5 GW in onshore wind and solar projects at various development stages. Additionally, it is advancing a 480 MWp solar system and a 200 MW storage project in Queensland.
“EDP aims to harness Australia’s significant growth opportunities in renewable energy by spearheading multi-technology projects. These initiatives are poised to expedite the country’s decarbonization efforts while delivering robust and cost-effective green power to its residents. Australia boasts immense potential in solar, wind, and storage, and we are pleased that Ocean Winds secured this offshore wind project through a competitive auction”
Rui Teixeira, EDP’s CFO
These inaugural offshore wind initiatives in Australia are poised to be instrumental in achieving Victoria’s renewable energy objectives. Victoria aims to achieve 95% renewable energy by 2035, with offshore wind capacity reaching at least 2 GW by 2032, 4 GW by 2035, and 9 GW by 2040.
Established in 2020 by EDP Renewables and ENGIE to spearhead offshore ventures, Ocean Winds is steadily progressing towards its 2025 milestone. By then, the company targets 5 to 7 GW of projects in operation or under construction, with an additional 5 to 10 GW in advanced development. Presently, Ocean Winds’ gross offshore wind capacity, encompassing operational, under-construction, and advanced development projects, stands at approximately 18 GW.