The Blue Economy CRC welcomes the announcement of the Morrison Government’s new legislation tabled to unlock investment in offshore energy projects.
The Offshore Electricity Infrastructure Bill 2021 will establish a framework for the construction, operation, maintenance and decommissioning of offshore electricity projects.
The announcement of the Bill follows the recent release of the Blue Economy CRCs Offshore Wind Energy for Australia report which outlines Australia’s high quality and abundant offshore wind resources and our ability to capitalise on and harness our offshore renewable energy resources.
The report highlights suitable sites for offshore wind in Queensland, NSW, Victoria, Tasmania, South Australia and West Australia, close to transmission grids and with high capacity factors.
Recommendations from the report included the establishment of a regulatory regime for the development of offshore renewable energy in Commonwealth waters and incorporation into state and national planning.
Additionally, the report states offshore wind can develop into a significant source of employment for offshore oil and gas workers along with the capacity to establish Australia as an ‘Energy Superpower’.
As stated by the Hon Angus Taylor MP, Minister for Energy and Emissions Reduction,
“An offshore electricity industry in Australia will further strengthen our economy, create jobs and opportunities for Australians, and enhance the delivery of affordable and reliable power,”
The introduction of the Offshore Electricity Infrastructure Bill 2021 is the first step in the realisation of Australia’s offshore electricity potential and key to unlocking a renewable energy future.