Hunter Coast Offshore Wind Project, Australia

Hunter Coast Offshore Wind Project is a 1,400MW offshore wind power project. It is planned in Tasman Sea, New South Wales, Australia. The project is currently in announced stage. It will be developed in single phase. The project construction is likely to commence in 2024 and is expected to enter into commercial operation in 2028.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.

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Project Type	Total Capacity (MW)	Active Capacity (MW)	Pipeline Capacity (MW)	Project Status	Project Location	Project Developer
Offshore	1,400	–	1,400	Announced	New South Wales, Australia	BlueFloat Energy; Energy Estate

Description

The project is being developed by BlueFloat Energy and Energy Estate. These companies also have ownership stakes in the project. The turbines will be mounted on floating type foundations.

Development Status

The project construction is expected to commence from 2024. Subsequent to that it will enter into commercial operation by 2028.

About BlueFloat Energy

BlueFloat Energy LLC ( BlueFloat Energy) is a developer of utility scale offshore wind energy projects. The company is headquartered in Spain.

About Energy Estate

Energy Estate Pty Ltd (Energy Estate) is a company that provides strategic consulting, transaction advisory and project development services. The company is headquartered in Sydney, New South Wales, Australia.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.