Norwegian company joins forced with Oceanex Energy for offshore wind project in Newcastle

An overseas oil and gas company has bought into three proposed offshore wind farms in NSW including one off the coast of Newcastle.

Norwegian company Equinor has struck a deal with Australian developer Oceanex Energy who is looking to develop the offshore wind projects – the proposed $10 billion Novocastrian Offshore Wind Farm will be located just over 20 kilometres off the coast and consist of 130 turbines which will generate 2,000 megawatts.

The wind farm is in the feasibility phase and would see strong winds offshore generate electricity that will be transmitted subsea and underground to existing nearby grid connection pints in the Hunter Valley.

Oceanex wants to see construction start in 2028 and be finished by 2031.

It would provide more than 3,000 direct jobs during construction and then 300 jobs during it’s operational life of 30 years.

Once the relevant declared areas have been announced by the Commonwealth Government, the two companies intend to submit feasibility licence applications for offshore wind acreage in Newcastle, the Illawarra and Eden.

Equinor is a huge company accounting for more than 70 per cent of Norway’s oil production but is increasingly getting involved in offshore wind to gradually decarbonise its operations.

The company is developing offshore wind clusters in the UK, the US Northeast and in the Baltic Sea. 

Vice President Business Development Renewables Asia & Pacific in Equinor Lars Johannes Nordli said they’re committed to investing in Australia due to the net-zero target by 2050 and the desire the country has to accelerate renewable energy.

“Our ambition is to apply our industrial offshore experience and broad energy competence to create long-lasting value and supply homegrown renewables power to Australia by working closely with a strong local partner such as Oceanex in New South Wales,”

“Assessing renewable opportunities in Australia supports our strategy as a global offshore wind major to build scale in core areas and secure growth options in attractive new markets early.”

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