Oceanex (NSW)

The energy to establish New South Wales as a natural global offshore wind leader.

Offshore wind energy is opening up a new resource boom, creating supply chain and investment opportunities for first movers. MBB is helping New South Wales become a leading global player in the space.

Large-scale wind generation electricity is expected to deliver jobs, investment and economic prosperity to those willing to embrace the potential of this new energy.

The Hunter and Illawarra regions of NSW have well-established large-scale, heavy industries in power, mining, manufacturing, engineering and logistics. This incredible depth of expertise and experience gives these regions a head start in developing the critical infrastructure required to harvest wind energy.

The opportunity has been magnified with the emergence of floating-foundation offshore wind farms. The floating-foundation turbines allow the production of wind energy in waters deeper than 70 metres, meaning the wind farms can be placed further out to sea, minimising their visibility. The world-class deep-water ports in both regions are ideally suited for the development and deployment of this new technology.

Oceanex Energy is a leading Australian offshore wind developer and owner. They are seeking to kickstart the floating offshore wind industry in NSW, build a supply chain and attract the investment to do so. Based on MBB analysis, their ambition is to develop and build four offshore wind projects in NSW (each capable of a 2,000mW capacity, and a CAPEX of $10 billion).

Our role

MBB developed a report describing Australia’s opportunity as a first mover in this new economy. Specifically, the report looked at the development of floating foundations technology, and the opportunities presented by that technology to drive an Australian offshore wind industry based in NSW. We:

• Interviewed more than 50 participants from the global offshore wind industry
• Undertook a desktop study of available literature to advise and influence key contributors, industry stakeholders and policy makers on the potential opportunities
• Analysed local supply chains and relevant workforces to determine the investment required.

The findings have provided robust foundations supporting the commencement of construction on Oceanex’s Novocastrian and Illawarra Offshore Wind Farms in 2028.

Our services

• Supply Chain Analysis
• Transaction Strategy
• Technical Writing
• Infographics and Diagrams
• Market Creation
• Due Diligence
• Market Sounding
• Workforce and Skills Development