French nuclear giant EDF buys massive Australian floating offshore wind project

EDF Renewables, a subsidiary of the French global energy player and nuclear giant EDF, has bought one of the biggest proposed offshore wind projects in Australia in its most significant move into the country to date.

EDF has bought the Newcastle Offshore Wind (NOW) project, touted as a potential 10GW resource that is located within the proposed Hunter-Central Coast renewable energy zone, and close to port and energy transmission infrastructure.

The French energy giant says the project is likely to be developed in stages, aligning with the progressive retirement of the regions ageing coal fired power stations, most if not all of which will be closed within a decade.

It’s final size is unlikely to be anywhere near 10GW, but could still be in the multiple of gigawatts depending on the results of a detailed feasibility study.

The acquisition by EDF is just the latest in a series of moves into the nascent Australian offshore wind industry by many of the world’s biggest energy players, including Ørsted, Equinor, Iberdrola, Corio, and a whole host of Australia and smaller developers.

The first offshore wind farms are likely to be built in Gippsland in Victoria, the first zone to be officially declared by the federal government and which will pave the way for the first detailed feasibility studies, but zones like Newcastle are expected to be next in line.

EDF says it has more than 10 years of expertise in offshore wind energy, operates seven offshore wind farms around the world, and is building another five, including its first floating offshore wind project in France.

“We are a significant player in developing large, complex projects like the proposed Newcastle Offshore Wind Farm,” said Dave Johnson, the head of EDF Renewables in Australia.

He said the original developers of the project, NOWE (Newcastle Offshore Wind Energy), who are based in Newcastle, had put a lot of effort in working with the local community and other stakeholders over the last 10 years.

“This landmark project will be developed in collaboration with a strong local team based in Newcastle, and will require the establishment of an entirely new industry in Australia,” he said.

“I am very confident that this project will play a crucial role in providing new opportunities for employment, establishing new business and the revitalisation of existing business looking to transition from existing industries”.

EDF’s first renewable energy play in Australia came in 2021, with the 280MW Banana range wind project in Queensland that also has planning approval for battery storage.

Later that same year, EDF was revealed to be looking to build up a portfolio of large-scale solar assets in the Hunter Valley, with an eye on the renewable energy zone planned for one of the country’s major coal regions.

It set up an office in Melbourne earlier this year.

Richard Finlay-Jones, one of the founders of NOW, has been working on the project since the idea first emerged 12 years ago.

“Our role will be to assist the Newcastle Offshore Wind project to achieve licencing and permitting on the pathway to construction,” he told RenewEconomy.

“Newcastle will benefit from this project in its transition from a coal port to a renewable energy hub. EDF is committed to decarbonisation through offshore wind development worldwide.”

See also Offshore Wind Farm Map of Australia