Fund­ing for Star of the South

The Australian Energy Review - - NEWS - EL­IZ­A­BETH FABRI

“The part­ner­ship brings to­gether lo­cal knowl­edge and proven in­ter­na­tional ex­pe­ri­ence that we be­lieve will de­liver many ben­e­fits for Aus­tralia, Vic­to­ria and lo­cal com­mu­ni­ties.”

AUS­TRALIA’S first off­shore wind farm, to be built off the coast of Vic­to­ria, has se­cured fund­ing through in­ter­na­tional green en­ergy in­vest­ment fund Copen­hagen In­fra­struc­ture Part­ners (CIP). On 30 Novem­ber, Mel­bourne-based Off­shore En­ergy an­nounced it had en­tered a part­ner­ship with CIP for the con­tin­ued de­vel­op­ment of its $8 bil­lion 2000 megawatt ‘Star of the South’ project. “Off­shore En­ergy is de­lighted to part­ner with Copen­hagen In­fra­struc­ture Part­ners, one of the lead­ing off­shore wind de­vel­op­ers in the world, to de­velop Aus­tralia’s first off­shore wind farm,” Off­shore En­ergy man­ag­ing di­rec­tor Andy Evans said. “The part­ner­ship brings to­gether lo­cal knowl­edge and proven in­ter­na­tional ex­pe­ri­ence that we be­lieve will de­liver many ben­e­fits for Aus­tralia, Vic­to­ria and lo­cal com­mu­ni­ties.” The com­pany de­clined to re­veal how much CIP had in­vested, but de­scribed it as a “long term se­ri­ous in­vest­ment for the life of the project”. Once de­vel­oped, Star of the South would be built within a 574sqkm area, be­tween 10km and 25km off­shore Gipp­s­land, and de­liver 8000GWH of elec­tric­ity per year; about 18 per cent of Vic­to­ria’s power us­age or enough to power 1.2 mil­lion homes. It would also con­nect to ex­ist­ing in­fra­struc­ture in the La­trobe Val­ley through un­der­ground and un­der­sea trans­mis­sion ca­bles. Fea­si­bil­ity stud­ies are sched­uled to be­gin in the sec­ond half of 2018. Ear­lier this year Off­shore En­ergy con­firmed a fea­si­bil­ity study would take at least three years to com­plete.

Im­age: Off­shore En­ergy.

Star of the South is set to re­duce car­bon emis­sions by 10.5 mil­lion tonnes per year.

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