Equinor has pulled out of the Australian Novocastrian Offshore Wind Farm project which was planned for a location about 20 kilometers offshore from off Newcastle.
It was partnered with Australian company Oceanex on the A$10 billion ($6.5 billion) floating wind project which was expected to generate 2,000MW for the Hunter region on Australia’s east coast.
Energy Minister Chris Bowen told ABC Radio Newcastle that Oceanex was too small to lead the project alone.
“Equinor is withdrawing from renewable investment around the world at the moment, from Vietnam, Portugal and Spain, so that’s disappointing,” he said.
In July, Blue Float Energy pulled out of a proposed A$10 billion offshore wind farm further south, off the Victorian coast.
The Australian Government is continuing to support the emerging offshore renewable industry, and on Friday released new guidance to help developers, researchers, scientists and other interested parties apply for research and demonstration licences in declared offshore zones.
Bowen says the Hunter offshore wind zone remains ripe for investment given their local workforce, experience with heavy industry, and large energy use.
Research and Demonstration licences will allow development and testing of offshore renewable energy technology, ensuring Australia is a home for renewable investment, innovation and development.
