Wind Energy – Terminal
Australia’s state of Victoria has dedicated EUR 76.4m to advance the Victorian Renewable Energy Terminal at the Port of Hastings, aiming to support the development of offshore wind farms.
The terminal will allow companies to assemble turbines before their offshore installation, the local government said on Monday.
The funding, allocated in the 2026/27 budget, will progress the Environmental Effects Statement (EES) process for the project.
The construction works will begin after planning approvals and environmental assessments are completed.
According to the statement, Victoria has the lowest wholesale electricity prices in the country because of renewable energy. They may continue to fall if the offshore wind potential of the Gippsland region is harnessed.
An auction to support the development of 2 GW of offshore wind farms is expected to begin in August. The capacity is sufficient to supply 1.5 million homes, the government said.
