Australia includes financial security requirement in amended offshore wind regulation

The changes were already implemented.

Australia has issued its amendments to the Offshore Electricity Infrastructure Act 2021 that set up a framework for such renewable energy projects to proceed in its waters.

In a statement, the government said the amendments include requirements for financial security, a design notification scheme, and management plans.

The amendments aim to support licence holders as they progress their offshore wind projects. These also “set transparent and robust processes for industry to carry out projects safely and sustainably.”

Following the implementation of the amendments, licence holders can already apply for their management plans to be approved, in conjunction with undertaking detailed environmental assessments. This will allow feasibility work to begin in areas where licences are granted.