Offshore wind was touted as a key part of Australia's energy transition but does it still have a future?

"For many Australians, the scale of offshore wind projects can be hard to fathom. These powerful machines, designed to harness the strong and consistent winds blowing over the ocean, are colossal, with blade tips reaching up to 350m higher than our tallest skyscrapers. If everything falls into place, Australia's first offshore wind project could have turbines in the water before 2032."

"The government has talked up its prospects of playing a huge role in Australia's energy transition. We aren't just building an industry from scratch, the energy minister, Chris Bowen, said in 2023. We are building an industry in which we want to be a world leader. Some may say that's an ambitious call for a nation with currently zero offshore wind installations."

Offshore wind turbines planned for Australia are enormous, with blade tips up to 350m above sea level, and projects could deploy turbines before 2032 if conditions align. The government aims to position Australia as a global leader in offshore wind, but recent months have seen multiple project cancellations and investor withdrawals across NSW, Victoria and Tasmania. Global policy moves have increased uncertainty and complicated investor confidence. The industry faces high upfront installation costs and unclear future revenue streams, which are primary hurdles slowing project progress and making timelines uncertain.

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