Mainstream Renewable Power Welcomes Australia’s 2.5GW Offshore Wind License

Mainstream Renewable Power, as part of the Gippsland Skies Offshore Wind consortium, has secured a feasibility license from the Australian government for a fixed-bottom 2.5 GW offshore wind project off the Gippsland region of Victoria.

The feasibility license was awarded following a highly competitive merit-based selection process, and it is expected to be one of Australia’s first offshore wind projects to reach commercial operation.

Gippsland Skies is a consortium of Australian and international companies, comprising Mainstream Renewable Power, Reventus Power, AGL Energy and DIRECT Infrastructure.

With a feasibility license secured, a series of detailed studies and multi-year offshore and onshore environmental surveys will commence, subject to approval processes, alongside consultation with First Nations peoples and community stakeholders.

The first phase of the project is expected to be operational in 2032, contributing to the Victorian government’s offshore wind targets of at least 2 GW by 2032 and 4 GW by 2035.

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When fully operational, the project could power up to 1.4 million Victorian homes which is equivalent to supplying approximately 17%  of the State’s 2023 electricity demand.

“Mainstream is a pioneer in the global offshore wind industry and our track record includes developing the world’s largest offshore wind project in operation today; Hornsea 2 in the UK. We have been present in Australia since 2019, developing a 1.5 GW portfolio of greenfield projects onshore and we’re now excited to add offshore wind to our pipeline in this very promising market for renewable energy development,” added Mary Quaney, Group CEO for Mainstream Renewable Power.

In 2021, Aker Horizons acquired a majority stake in Mainstream and, in 2022, Mitsui & Co joined Aker Horizons as a long-term strategic investor.

In 2022, Aker Offshore Wind integrated with Mainstream, combining development and industrialization capabilities through the Aker group of companies with Mainstream’s strong development and execution track record.

Mainstream is currently developing a net capacity of 1.5 GW of floating offshore wind in Scotland and South Korea and 1.3 GW of fixed bottom offshore wind in Vietnam as well as early-stage development of offshore wind projects in Sweden and Norway.