Oceanex Energy (‘Oceanex’), led by two of Australia’s offshore wind pioneers, is planning the development and construction of up to 5 offshore wind farms off the coasts of NSW and WA, which will provide over 9,000MW of large-scale clean, reliable, affordable electricity that creates huge new investment, jobs and leadership opportunities for Australia, especially in key regional centres. Oceanex is also in early-stage development of projects off the coast of New Zealand.
Offshore wind farms have been developed globally for almost 30 years and can provide many benefits for Australia including:
- Estimated $47b of total capital expenditure across 5 projects commencing construction from 2027
- Over $1b of total development expenditure across 5 projects which has already commenced
- Up to 10,000 jobs (direct and indirect) per project during construction and approximately 300 annual, full-time jobs during operational life of 30 years - mainly regional and high-value jobs
- Assistance in transitioning workforces to a related, large-scale, innovative new industry
- Attraction of significant local and, particularly, international investment in a growing asset class to Australia
- Enabling acceleration of similar innovative new industries such as hydrogen and electric transportation
- Avoiding environmental issues associated with land-based infrastructure and energy projects
- Establishing Australia as an innovation/R&D/education leader in the energy and technology space with the development of ‘floating foundation’ technology