Victorian Offshore Wind Auction Opened on the morning of the 26th August 2026
Victoria’s offshore wind auction follows years of planning, feasibility studies, and federal support for offshore wind zones, particularly in Gippsland. The offshore wind industry is expected to create more than 6,000 jobs and generate billions of dollars in investment.
Minister for Energy and Resources Jaclyn Symes today opened the Request for Proposal process for Victoria’s first two gigawatts (GW) of offshore wind. This will provide enough energy to power around 1.5 million homes each year.
Victoria has some of the best offshore wind resources in the world. Making the most of them will add large amounts of new renewable energy to the grid as the state’s ageing and increasingly unreliable coal-fired generators retire.
Timing of OSW development
The auction process will close in August 2027, and an extensive evaluation of bids will follow, with contracts intended to be awarded in 2028.
Offshore wind projects are large, complex infrastructure investments. They require extensive planning, environmental assessments, supply chain development and regulatory approvals. Because of their scale and complexity, the development timeline for an offshore wind project is lengthy.
Subject to the tender process and favourable approval outcomes, construction for the first 2GW of OSW is expected to commence from 2032, with energy to start flowing into our grid in 2034.
Local outcomes
Local businesses and communities can expect offshore wind developers to enter a new phase of direct and specific engagement as they develop and finalise their bid commitments. Proposals will be assessed on value for money and deliverability, as well as commitments to local content, workforce development, partnerships with Traditional Owners, community engagement and benefit sharing.
OSW is expected to create significant economic opportunities for Victoria, with an estimated $20 billion invested into Victoria for the first 2 GW and a $4.6 bn boost to Victoria’s Gross State Product (GSP), including $3.1bn for Gippsland.
