Australia, Victoria, Port of Hastings: The Victorian Government has committed $90 M (AUS$124.5 M) in its 2026/27 Budget to move forward with plans for the Victorian Renewable Energy Terminal at the Port of Hastings.
This funding will support progress on the Environmental Effects Statement (EES), a key step in developing what would be Australia’s first heavy-duty port designed specifically for offshore wind projects.
The proposed terminal would enable companies to assemble wind turbines onshore before transporting them out to sea for installation.
The project is currently undergoing a full EES process, which includes detailed environmental studies and consultation with local communities. Once planning approvals and environmental checks are completed, construction work can begin.
Victoria already benefits from the lowest wholesale electricity prices in the country, largely due to its strong use of renewable energy. Tapping into Gippsland’s offshore wind potential could help drive prices down further as ageing coal-fired power stations are retired. It would also secure Gippsland’s role as a key energy hub for years to come.
An auction for the state’s first gigawatt of offshore wind capacity is set to open in August 2026, expected to generate enough electricity to power around 1.5 million homes.
At its peak, the offshore wind sector could create more than 2,370 jobs and bring in billions of dollars in investment.
Minister for Ports and Freight Melissa Horne said the funding would ensure proper environmental and technical assessments, including protection of Ramsar-listed wetlands, while meeting EES requirements.
Source: Energy Global
