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Green Giraffe advised Oceanex Energy on the formation of a floating wind partnership with Equinor in NSW, Australia
Press release – Sydney, 30 August 2022
Green Giraffe advised leading Australia and New Zealand offshore wind developer Oceanex Energy on the formation of a partnership with Equinor, the Norwegian broad energy company. The partnership will further develop Oceanex-originated offshore wind opportunities in New South Wales, Australia.
The Federal Government of Australia has signalled a strong desire to develop an offshore wind market in Australia with the commencement of the Offshore Electricity Infrastructure Act’s licensing regime, the consultation commencement in the Gippsland area and a further five zones identified, including off the Hunter Valley and Illawara coastlines.
Equinor and Oceanex will seek to bring together local knowledge and experience gained over the last decade by Oceanex’s co-founders (Andy Evans and Peter Sgardelis, two of the co-founders of the Star of the South Offshore Wind Farm) with Equinor’s world-leading broad energy experience and pioneering role in the development of offshore wind and especially floating foundation technology.
Equinor and Oceanex will build upon the strong foundation Oceanex has created in New South Wales since 2020, commencing with the submission of feasibility licence applications for offshore wind acreage in New South Wales once the areas have been declared by the Federal Government.
Andy Evans, Co-Founder/CEO, Oceanex Energy says: ‘Oceanex is delighted to be working with Equinor to make floating offshore wind a thriving future industry for New South Wales. Much like the offshore wind journey in Australia, a lot of hard work has gone into getting us to this stage, and we were delighted that Green Giraffe were there by our side to bring the Equinor partnership to fruition. Bringing a global perspective to a new market is critical, and the Green Giraffe team, like Equinor, are world leaders in what they do and have prepared us well for an exciting future.’
The Green Giraffe team are delighted to have supported Oceanex Energy in this process and to have again assisted in the creation of a powerful partnership in floating offshore wind. Green Giraffe has been involved in ca. 60 mandates in floating wind worldwide, with over half being transaction based. With the closing of the Oceanex transaction, we consolidate Green Giraffe’s position as the leading financial advisor in the floating offshore wind industry.
This deal is particularly pleasing for us given we have recently committed to a physical presence in the country and opened an office in Sydney. We look forward to continuing to advise clients in the emerging offshore wind sector in Australia and playing our part in the broader energy transition.