general news

Equinor and Oceanex Energy team up to pursue offshore wind opportunities in NSW

Sydney, 30 August 2022 – The Norwegian broad energy company, Equinor and leadingAustralia and New Zealand offshore wind developer Oceanex Energy (Oceanex) areteaming up to progress offshore wind opportunities in New South Wales, Australia.The Commonwealth Government has signalled a strong desire to develop an offshore windmarket in Australia with new legislation and an emerging regulatory framework coming into effectrecently.The collaboration will combine Oceanex’s local knowledge and experience gained over the lastdecade with Equinor’s world-leading offshore experience and pioneering role in the developmentof offshore wind.Oceanex has prepared the ground for offshore wind projects in New South Wales over severalyears with a focus on the Hunter Valley (Novocastrian Offshore Wind Farm), Illawarra (IllawarraOffshore Wind Farm) and South Coast (Eden Offshore Wind Farm). Once the relevant declaredareas have been announced by the Commonwealth Government, the two companies intend tosubmit feasibility licence applications for offshore wind acreage in these regions.Lars Johannes Nordli, Vice President Business Development Renewables Asia & Pacific inEquinor said, “Australia has set a net-zero target by 2050 and has signalled a strong desire toaccelerate renewable energy as part of its energy mix. Our ambition is to apply our industrialoffshore experience and broad energy competence to create long-lasting value and supplyhomegrown renewables power to Australia by working closely with a strong local partner such asOceanex in New South Wales. Assessing renewable opportunities in Australia supports ourstrategy as a global offshore wind major to build scale in core areas and secure growth options inattractive new markets early.”Andy Evans, Chief Executive Officer, Oceanex said, “We are delighted to be partnering withEquinor on offshore wind opportunities in New South Wales. We believe that Equinor, as leadersin offshore wind and floating foundation development, are the ideal partner to progress theseexciting projects. Our optimism is heightened by detailed stakeholder engagement, strongindustrial bases, especially in the Hunter and the Illawarra, and our high-level environmentalstudies and grid studies which support large new infrastructure uptake and State andCommonwealth policies. We look forward to continuing the development of our projects in NewSouth Wales and working closely with Equinor to build this new industry in New South Wales.”Equinor and the shareholders of Oceanex will co-invest in entities to explore these opportunities,with the transaction expected to complete in Q4 2022, subject to relevant approvals.

Learn more