Top female wind veterans lead new 5GW bid in Australian offshore bonanza - Recharge
Top female wind veterans lead new 5GW bid in Australian offshore bonanza | Recharge
A consortium led by two of the top women in the renewable energy sector has entered the race for the first generation of Australian offshore wind projects, with a bid for a 5GW farm off the coast of Victoria.
EnergyAustralia and Dutch offshore specialist Boskalis are part of the five-company Elanora Offshore consortium, which claims its planned wind farm could provide 40% of the state of Victoria’s energy needs.
The other members are wind specialist KIMAenergy and renewables investor Polpo Investments, both based in Australia; and Poland’s Respect Energy, an established energy trader and retailer that operates across Europe.
Related Knowledge Center: Offshore wind energy
Over the next decade, U.S. offshore wind power is expected to grow from a single 30-megawatt wind farm off Rhode Island to more than 2,000 MW of capacity along the Atlantic Seaboard. There are contracts for wind power off the coasts of Massachusetts, Connecticut, New York, Maryland, New Jersey, Rhode Island, and Virginia.
The National Renewable Energy Laboratory has estimated the United States has over 4,000 gigawatts (GW) of offshore wind potential, enough to power the country four times over.
The growth in part being spurred by state solicitations, including in New York, where then-Gov. Andrew Cuomo (D) set a commitment of 9,000 MW of offshore wind by 2035, and in Connecticut, where in June 2021, Gov. Ned Lamont (D) signed legislation authorizing the construction of 2,000 MW of offshore wind by 2030.
The offshore development is also being driven by an investment tax credit set to end in December 2019 and is equal to 12 percent of expenditures. U.S. Sens. Susan Collins (R-Maine) and Tom Carper (D-Del.) have introduced a bill to extend the tax credit for up to eight years.
The Interior Department has held eight competitive lease sales that resulted in 15 offshore wind leases over 1.7 million acres that has the potential for 21 GW of capacity. In February 2022, the Bureau of Ocean Energy Management completed a bidding process that realized $4.37 billion for 488,000 acres across six lease areas in federal waters off New York and New Jersey.
Projects have also been proposed off the Southeast coast, off California and Hawaii, and for the Great Lakes.