Flotation Energy has secured $2.3 million in Australia from the Victorian Government Energy Innovation Fund for its planned 1.5 GW Seadragon offshore wind farm in Gippsland, Victoria.
The proposed 1.5GW bottom fixed Seadragon offshore wind project is located near oil and gas platforms in Bass Strait, off Victoria’s Gippsland coast, between Seaspray and Golden Beach.
Commenting on the funding, Tim Sawyer, Flotation Energy’s Operations Director, said, “We are very pleased at our success. This is a major step forward for our $6 billion Seadragon project and great news for the local community in Gippsland”.
“Offshore wind is a mature and competitive technology with a bright future in Australia. The Victoria Government's Energy Innovation Fund, along with the passage of the Offshore Electricity Infrastructure Bill, gives us the confidence to accelerate the development of our Seadragon offshore wind farm.
"We look forward to working with Government, local businesses, and communities to build a strong offshore wind industry in Australia that can deliver cost-competitive and reliable electricity, reduce emissions, and deliver significant regional economic opportunities."
Carolyn Sanders, Flotation Energy’s Melbourne-based Project Development Manager, said, “We are assessing the opportunity to re-use some of the assets that are no longer needed for oil and gas production for our offshore wind farm."
“This is a true energy transition project that will help to create hundreds of local jobs and billions of dollars of investment in a new offshore industry. We are determined to secure Gippsland and the Latrobe Valley’s position as Victoria’s energy production hub.
"An important and very significant part of our project is to work with existing facility operators to leverage their experience in Bass Strait and consider re-use of offshore oil & gas assets. Flotation Energy will move through the development process, including consenting, in consultation with a wide range of stakeholders and would be pleased to hear from local communities and potential supply chain partners."
According to Flotation Energy, the $6 billion project will convert Victoria’s offshore wind resource into electricity that will power some 1 million Victorian homes and businesses.
The project will also explore opportunities to reuse and repurpose existing oil and gas assets in the Gippsland Basin.
The construction of the project is expected to begin in 2027/28. Two options are being explored that offer flexibility in project design and siting and maximize opportunities for oil and gas asset reuse. Deeper areas may support the use of floating wind turbines in the future.