The Australian government in Victoria has unveiled the country’s first offshore wind targets, through which it aims to reduce emission levels and attract new investment.
The executive outlined the targets in its Victoria Offshore Wind Policy Paper, in which it set a target of generating at least 2GW of clean power by 2032.
That would be enough energy to power 1.5 million homes.
The government has also set rolling targets of 4 GW by 2035 and 9 GW by 2040, which it aims to achieve through competitive processes.
It plans to produce its first offshore wind power in 2028 at the earliest.
These initiatives aim to help the state halve its carbon emissions levels and achieve net zero emissions by 2050.
Last November, the executive committed nearly A$40 million ($29 million) under the Energy Innovation Fund to support feasibility studies and pre-construction work for three major offshore wind proposals , namely Star of the South, Macquarie Group and Flotation Energy.
With a combined capacity of 4.7 GW, the three projects are expected to provide power to around 3.6 million homes and bring in over A$18 billion in new investment to the state.
Victoria Premier Daniel Andrews said: “Today Victoria has the lowest electricity prices in five years and the largest annual increase in renewables of any state.
“We’re not just talking about the clean energy transition, we’re actually delivering it – with thousands of jobs in one of the world’s fastest growing industries and lower bills for millions of households. “
Energy, Environment and Climate Change Minister Lily D’Ambrosio said: “We know it will take years to plan and develop the first tranche of wind projects in Australia, due to their complexity, scale, regulatory and infrastructure requirements – and we are ready to begin this journey today.
In November 2020, the Victorian Government announced plans to invest A$1.6 billion to establish renewable energy centers across the state.