Overview
- Origin Energy and RES have let go five staff on the Navigator North venture and say they are unlikely to bid for current government funding, with development continuing while they await details on future rounds.
- Investor pullback has accelerated, with BlueFloat Energy surrendering the $10 billion Gippsland Dawn project, Novocastrian abandoning a Newcastle plan, and Equinor exiting multiple proposals, a trend linked by some to global setbacks including U.S. permitting reversals.
- Victoria is proceeding with a contracts‑for‑difference auction starting in September that includes availability payments, with awards targeted before October 2026.
- Offshore wind currently costs about 64% more than onshore, according to CSIRO’s GenCost analysis, reinforcing calls from experts for revenue support mechanisms such as CfDs.
- Star of the South in Gippsland is preparing formal environmental and planning submissions and is widely regarded as the most likely candidate to lead Australia’s first build.