THREE offshore wind projects in Gippsland have received almost $40m in funding from the state government to drive renewable energy opportunities.
As part of the Energy Innovation Fund, the government is kickstarting the major offshore wind projects – from Star of the South, Macquarie Group and Flotation Energy.
The funding boost announced will support feasibility studies and pre-construction development, including environmental assessments, and adds to $96 million the companies are already investing in these projects.
The Star of the South will receive $19.5 million to support pre-construction development activities for an offshore wind farm off the Gippsland coast.
If built to its full, proposed scale, it would have up to 2.2GW of capacity – enough power to provide nearly 20 per cent of Victoria’s energy needs.
Macquarie Group will receive $16.1 million to facilitate initial development stages of a 1GW offshore wind farm off the Bass Coast.
Flotation Energy will receive $2.3 million for scoping studies and surveys for a 1.5GW offshore wind farm off the coast of Gippsland.
The funding will help each company conduct studies to determine the exact location of each project.
All major projects will require a rigorous community consultation process and will be subject to a range of regulatory approvals including environmental impact assessments, the state government said.
Taxpayer boost for offshore wind projects