Elanora Offshore, a consortium of renewable energy companies, has revealed its intentions to develop a 5GW offshore wind project of the same name off the coast of Gippsland, within Australia’s first declared area.

The consortium comprises offshore wind development specialist KIMAenergy, energy retailer EnergyAustralia, offshore wind transportation and installation company Boskalis, energy supplier and off-taker Respect Energy, and renewables developer Polpo Investments.

Following the receipt of the feasibility licence and other mandatory approvals, the first phase of the Elanora Offshore wind project is anticipated to be operational by 2032.

The second phase of the Australian offshore wind project is scheduled to be completed by the end of 2034 to align with the targets of the Victorian government.

Once fully operational, the Elanora Offshore project will generate more than 20TWh of clean energy for Victoria annually, which is 40% of the Australian state’s current energy requirements.

Furthermore, the offshore wind project will offset 600 million tonnes of carbon dioxide emissions over its lifetime.

Elanora Offshore CEO Maya Malik said: “Great to be part of this exciting project. We have crafted something truly special – a highly credible consortium designed to pre-address new market risks, along with an experienced, Australian-based management team committed to deliver.”

The consortium is expected to generate more than 3,000 direct jobs during the construction and 320 direct jobs during the operations of the Elanora Offshore wind project.

According to Elanora Offshore, it has secured funding commitments for the offshore wind facility from investors.

The consortium stated: “Harnessing extensive global offshore wind and energy infrastructure expertise, Elanora Offshore is seeking to be amongst the first to build offshore wind farms in Australia.”

Separately, EnergyAustralia announced its inaugural climate transition action plan (CTAP) to achieve net zero by 2050 across scopes 1 and 2 emissions.

The CTAP involves a commitment to collaborate with partners to expand its clean energy portfolio with up to 3GW to be committed or operational by the end of this decade.