The Australian Government has taken a significant step to bolster the offshore renewable energy sector by releasing new guidelines aimed at facilitating research and demonstration licences.
The latest guidelines will assist a range of stakeholders, including developers, researchers, scientists, and any other interested individuals, in obtaining research and demonstration permits within designated offshore areas.
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This initiative aims to create a hub for both offshore renewable energy studies and commercial production ventures.
The Hunter offshore wind zone, known for its skilled workforce and heavy industrial experience, is highlighted as a prime location for investment.
The government’s initiative opens doors for projects that utilise advanced monitoring equipment such as buoys and demonstration projects to assess the viability of emerging technologies prior to applying for a license to fully commercialise the plan.
Licences granted under the new scheme are proposed to have a ten-year duration and will be accessible across all six declared offshore areas.
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By GlobalDataEach application will undergo a thorough assessment to ensure its suitability, and community consultation will be a mandatory part of the project development process.
For instance, the advancement of floating wind turbine technology could unlock up to 8GW of renewable energy capacity in the Hunter and Illawarra offshore regions.
Minister for Climate Change and Energy Chris Bowen said: “The Albanese Government is securing Australia’s energy future with the offshore wind industry the former Coalition Government promised but failed to deliver. These Research and Demonstration licences are a big green light to domestic and international investors, signalling that Australia wants to be home to the next technological advance when it comes to offshore renewable development.
“Our first priority for Australia’s offshore renewables areas is to deliver cleaner and cheaper energy, we know there’s a huge reserve of renewable resources on offer if we can develop the technology to harness it. Australian waters are the perfect place to research and develop these technologies, demonstrate their viability and work towards turning our clean energy potential into gigawatts of power.”
In a separate development, an interim report by the Australian Productivity Commission has pinpointed several shortcomings in the nation’s emissions reduction strategies.
The report, titled ‘Investing in Cheaper, Cleaner Energy and the Net Zero Transformation’, suggests that current policies may not adequately address the challenges beyond 2030, particularly in the electricity sector, industrial facilities, and heavy vehicles.
