Victoria commits A$124.5m to offshore wind terminal development

• 8 May 2026
• Government, Windfarms
• Nick Hood

The Victorian Government will invest A$124.5 million to progress development activities for the Victorian Renewable Energy Terminal at the Port of Hastings.

The funding, announced as part of the 2026/27 Victorian Budget, will support the Environmental Effects Statement process for what would become Australia’s first dedicated heavy-duty offshore wind port.

The terminal is intended to support the assembly of offshore wind turbines before installation offshore and forms part of Victoria’s wider offshore wind strategy centred on the Gippsland region.

The government said the auction for Victoria’s first 2 GW of offshore wind capacity will open in August, with the projects expected to generate enough electricity to power around 1.5 million homes.

At peak construction, the offshore wind sector is expected to support more than 2,370 jobs and attract billions of dollars in investment.
Victoria’s Minister for Energy and Resources Lily D’Ambrosio said offshore wind would play a key role in replacing ageing coal-fired generation and supporting long-term energy supply.

The Port of Hastings project remains subject to planning approvals, environmental assessments and community consultation before construction can proceed.