FAQs

Offshore wind will be critical for meeting forecast energy needs by providing a new, large-scale source of clean energy capable of filling supply gaps when coal-fired power generation is retired from late this decade.  Given its reliability and availability at peak times, offshore wind can also be strategically located close to regions with high population and industrial energy needs, increasing reliability of supply and reducing the need for extensive new transmission and ancillary energy distribution infrastructure. NSW’s offshore wind resources are among the world’s best, comparable to the North Sea between Britain and Europe – an area that leads world in offshore wind generation. Winds offshore from NSW are also typically strong and more reliable than onshore winds, often reaching capacity at times that correspond with peak energy demand, ensuring consistent electricity can be generated when it is needed most. Importantly, offshore wind offers potential to fast track job and economic development opportunities for regional Australia and could help to accelerate new industries such as hydrogen and electrification of transport.

Development of a new, offshore wind industry in the Hunter region will direct significant Australian and international investment into this key regional economy and support new, high-quality jobs that leverage the existing skillsets of local workers and businesses. Newcastle is close to existing high voltage grid infrastructure and coal-fired power stations scheduled for closure by 2040.

The Novocastrian Offshore Wind Farm project will be located more than 20 kilometres off the coast of Newcastle. This deeper water location will provide access to stronger wind resources offshore and also minimise potential visual impacts. The location is close to large electricity demand markets and within good proximity of existing onshore transmission infrastructure.

The Novocastrian Offshore Wind Farm is currently in the early development phase. Development of the project is happening in parallel with the formation of a national regulatory framework for offshore wind energy, during which we expect the Hunter region will be declared open for development and applications for Feasibility licences will be available. Should Novocastrian Offshore Wind secure a feasibility licence, it will ramp up extensive scientific and technical studies, alongside a more in-depth supply chain analysis to support the sustainable growth of the local offshore wind industry. Stakeholder consultation will provide valuable input during this time. This phase is expected to take 3-5 years and will include the preparation and exhibition of a detailed project Environmental Impact Statement (EIS). If the project is approved and finance secured, Novocastrian Offshore Wind intends to begin construction of the project in 2028.

Estimated capital expenditure for the Novocastrian offshore wind farm is $10 billion. The Novocastrian offshore wind farm is expected to require more than 3,000 Full Time Equivalent (FTE) workers during the Project’s four-year construction phase. Oceanex has a strong preference to hire qualified local workers during this period and is committed to developing the workforce close to the project area. The Project will also contribute to high numbers of new, indirect jobs and employment. It is estimated the Project will generate a further 7,000 indirect jobs (transport, hospitality, services) during the construction phase. A further 300 long-term employees will be hired to oversee ongoing operations of the wind farm.

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