The proposed offshore wind project will be located in the Bass Strait, the first offshore wind zone to be declared by the Australian Government.
The 15,000km² zone will generate 10GW of clean energy annually and create new employment opportunities in the region.
The offshore wind project is also expected to generate substantial economic benefits for Australia.
The project development phase will include an investment package of A$400m to support workforce and supply chain development.
Mainstream offshore wind head Tove Røskaft stated: “Mainstream has a strong history in offshore wind as one of the earliest developers globally.
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“Our 20-year plus legacy goes back to developing the very first offshore wind farms in Ireland and the UK, including the Hornsea zone which is the world’s largest offshore wind farm in operation today.
“Mainstream was part of the partnership behind the UK’s biggest offshore wind supply chain success story and by leveraging the global experience of our parent company, the Aker group, we seek to bring similar benefits to the local supply chain in Australia.”