Australia’s Wind Energy Sector Poised for Growth

Company News

by Finance News Network

Australia’s wind energy sector is experiencing a resurgence, poised for significant growth as the nation transitions away from coal-fired power generation. According to the Global Wind Energy Council (GWEC), wind power supplied 32,519 gigawatt-hours (GWh) of energy in 2024, representing 33.5% of Australia’s renewable power generation and 13.4% of the total power generation. This makes wind the largest supplier of clean energy in the country.

After a slump in 2023, investment commitments rebounded to $5.9 billion for eight new onshore wind projects, totaling 2.2GW of new generation capacity. This turnaround is attributed to streamlined planning and environmental assessment processes, alongside reduced commercial risks through the expanded Capacity Investment Scheme. While all current wind power generation comes from onshore assets, the offshore sector saw considerable progress in 2024, with area declarations and feasibility licenses awarded. Declared offshore wind areas now include the Southern Ocean, Illawarra, Indian Ocean (Bunbury), Bass Strait (Northern Tasmania), Gippsland, and the Hunter, signaling a future expansion into offshore wind power.


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