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Newcastle Herald
Newcastle Herald
Matthew Kelly

Green light for offshore wind collaboration

The Foreign Investment Review Board has granted approval for Equinor to invest in Oceanex's NSW offshore wind project entities.

The Foreign Investment Review Board (FIRB) has granted approval for Norwegian energy company Equinor to invest in Oceanex's NSW offshore wind project entities.

The collaboration will combine Oceanex's local knowledge and experience gained over the last decade with Equinor's international experience in the development of offshore wind.

The proponents are focused on the Hunter Valley (Novocastrian Offshore Wind Farm), Illawarra (Illawarra Offshore Wind Farm) and South Coast (Eden Offshore Wind Farm).

Once the relevant declared areas have been announced by the federal government, the two companies intend to submit feasibility licence applications for offshore wind acreages. The government is expected to announced the start of consultation for the Hunter project this month.

Equinor senior director for offshore wind in Australia Thomas Hansen said he was delighted the collaboration with Oceanex has been finalised.

"We are now set to progress feasibility licence applications with Oceanex. NSW is a promising market for floating offshore wind given the proximity to load centres and industrial offtakers, the evolving energy mix, strong transmission infrastructure, and industrial capabilities," he said.

"We are proud to bring 20 years of experience in floating offshore wind and look forward to combining our global capabilities with Oceanex's strong local knowledge in close cooperation with industry, government and communities."

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