The Federal Government has introduced a package of new laws, featuring three new bills, to support the development of Australia’s offshore energy industry and infrastructure, and boost investment in the sector.
The package of new laws aims to establish the regulatory framework around electricity infrastructure projects in Australian waters.
Minister for Industry, Energy and Emissions Reduction, Angus Taylor, said the new laws build on the Federal Government’s strong record of enabling new renewables projects and the delivery of critical energy infrastructure.
“The Morrison Government’s offshore electricity infrastructure package will unlock development of a new industry that will create thousands of skilled regional jobs, strengthen our economy, and support a more affordable and secure energy system,” Mr Taylor said.
“Importantly, this framework enables the development of these new energy projects while safeguarding the environment, securing the health and safety of workers and protecting other maritime stakeholders.
“This legislation will accelerate a number of key projects already under development – projects that include the Star of the South, Sun Cable, and the Marinus Link transmission line, which will connect the mainland to Tasmania’s Battery of the Nation project, strengthening reliability and helping to keep the lights on and energy prices low.
“Combined, these three proposals, Marinus Link, Star of the South and Sun Cable, are estimated to be worth over $10 billion and create over 10,000 direct and indirect job opportunities.”
Assistant Minister to the Minister for Industry, Energy and Emissions Reduction, Tim Wilson, said, “Our Liberal approach has delivered Australia’s first comprehensive, economy-wide plan to get Australia to carbon neutrality by 2050, moving with technology and responding to changing market demands.
“The establishment of this framework will help empower communities across Australia, enabling them to take advantage of the tremendous potential offered by offshore electricity.”