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Flotation Energy secures $2.3 million from the Victorian Government Energy Innovation Fund for its Seadragon Offshore Windfarm in Gippsland, Victoria

Today Flotation Energy Plc’s 1.5 GW Seadragon offshore wind project in Australia received a big boost – a $4.9 million partnership with the Victorian Government’s Energy Innovation Fund. We are excited to accelerate development of the Seadragon project and look forward to working with Government, local businesses and communities to build a strong offshore wind industry in Australia.

MELBOURNE, Australia – Flotation Energy Pty Ltd has won $2.3 million from the Victorian Government’s Energy Innovation Fund to move forward development of its 1.5 GW Seadragon offshore windfarm, off the coast of Gippsland in Victoria.

Tim Sawyer, Flotation Energy’s Operations Director, said, “We are very pleased at our success. This is a major step forward for our $6 billion Seadragon project and great news for the local community in Gippsland”.

“Offshore wind is a mature and competitive technology with a bright future in Australia. The Victoria Government’s Energy Innovation Fund, along with the passage of the Offshore Electricity Infrastructure Bill, gives us the confidence to accelerate the development of our Seadragon offshore windfarm. We look forward to working with Government, local businesses and communities to build a strong offshore wind industry in Australia that can deliver cost competitive and reliable electricity, reduced emissions and deliver significant regional economic opportunities”.

The Seadragon offshore windfarm will be located in Commonwealth waters off Ninety Mile Beach, adjacent to existing oil and gas infrastructure.

Carolyn Sanders, Flotation Energy’s Melbourne based Project Development Manager, said, “We are assessing the opportunity to re-use some of the assets that are no longer needed for oil and gas production for our offshore windfarm”.

“This is a true energy transition project that will help to create hundreds of local jobs and billions of dollars of investment in a new offshore industry. We are determined to secure Gippsland and the Latrobe Valley’s position as Victoria’s energy production hub. An important and very significant part of our project is to work with existing facility operators to leverage their experience in Bass Strait and consider re-use of offshore oil & gas assets. Flotation Energy will move through the development process, including consenting, in consultation with a wide range of stakeholders and would be pleased to hear from local communities and potential supply chain partners.

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