SSER-Equis Gippsland (SEG) is a 50/50 joint venture formed between SSE Renewables (SSER) and Equis to develop an offshore wind project in Gippsland, Victoria.
The project spans a 699 km2 area, comprising of up to 194 turbines generating ~3.6 GW, to be built over three 1.2 GW stages which will help deliver the Victorian Government’s target of at least 2 GW by 2032.
The project is 60 km from shore with minimal visual impacts, higher wind speeds and energy output.
It will be a fixed bottom project at water depths of up to 60 metres. SSER is the only company globally to have constructed a fixed bottom offshore wind project in water depths of 60 metres.
$270.1 million development budget of which $185.5 million will be unconditionally funded upon acceptance of an offer to grant a feasibility licence, including $80 million to be immediately cash funded.
The Victorian and Federal Government’s proactive leadership will ensure the most economically viable offshore wind resource in Australia will be developed, with a unique stable (+/-5%) 24 hour power generation profile that peaks during the National Electricity Market’s 4-7 pm peak pricing period, complementing solar and onshore wind generation.
SSER is a renewable energy developer, constructor, and operator headquartered in the UK, and a subsidiary of SSE plc (a FTSE 100 company with a market capitalisation of $38.1 billion). SSER controls the development and construction of 16.5 GW of offshore wind projects.
20 years of experience in developing offshore wind projects.
Completion track record, of 100% for offshore wind projects once securing a seabed licence.
Partnered with a range of leading investors including CIP, TotalEnergies, Equinor and Eni.
Offshore wind management expertise, including 530 offshore wind and 1,100 renewable energy professionals, allowing gaps to be immediately filled mitigating delays.
SSER supply chain relationship control for all projects globally, which is fundamental as countries compete for senior management and supply chain capacity knowhow.
Gross Value Added to the Australian Economy over SEG's projected life.
Co-investment commitment with the Government to build local supply chains, workforce expertise and SEG’s social licence.
Equivalent to 50,000 FTE employment years materially benefiting local economies.
CO2 Emissions abated over the projects lifetime.
Equivalent to 2 million homes or 4.2 million electric vehicles powered annually.
25 stakeholders consulted: federal, state and local government, community groups, unions traditional owners and educators, including sponsored offshore wind research with Federation University and TAFE Gippsland.
SSE was ranked No.1 globally by the World Benchmarking Alliance (the largest global corporate social licence and carbon transition initiative) amongst the leading 100 oil & gas companies, 50 electric utilities and 30 automotive companies.
SSER is the largest customer of GE turbines and the preferred customer of GE and Vestas in launching new turbine technologies. SEG has procured 36 supply chain support commitments.
For the world’s largest offshore wind project, 3.6GW Dogger Bank, UK (financial partners Equinor and Vårgrønn).
For the world’s deepest offshore wind project, 1.1GW Seagreen, UK (financial partner TotalEnergies).
50 local renewable energy professionals, headquartered in Melbourne. 590 combined offshore wind professionals.
SSER/Equis’ due diligence, financial modelling & risk analysis identified the SEG site as reliably delivering Australia’s lowest cost offshore wind power for Victoria and the NEM.
Equis is developing the 1,200MW Melbourne Renewable Energy Hub (MREH). Designated a Project of State Significance, MREH will satisfy 46% of Victoria’s 2030 energy storage target, directly supporting the Murray River, Western Victoria and South West REZs.