Australia Renewable Energy Offshore Wind-Solar Hybrid Plant Development Feasibility Study with Clean Power Market Forecast

Executive Viability Abstract

This feasibility study evaluates the development of a large-scale offshore wind-solar hybrid plant in Australia's coastal waters (specifically Bass Strait and the Hunter region). By leveraging shared transmission infrastructure and synergistic generation profiles, the project aims to stabilize supply and capitalize on Australia's transition to a renewable-led energy market. The study forecasts high profitability driven by declining LCOE and increasing demand for green hydrogen and industrial electrification.

## Market Analysis Australia is currently undergoing a rapid energy transition, with the Australian Energy Market Operator (AEMO) predicting a need for a nine-fold increase in utility-scale renewable generation by 2050. Offshore wind legislation (Offshore Electricity Infrastructure Act 2021) has opened the doors for multi-gigawatt projects. A hybrid wind-solar approach mitigates the variability of single-source plants, providing a more constant power output to the National Electricity Market (NEM). ## Technical Feasibility The project utilizes 15MW offshore wind turbines paired with floating photovoltaic (FPV) arrays. Both technologies share a common offshore substation and HVDC export cable, reducing total CAPEX by approximately 15-20% compared to two separate projects. Challenges include high-salinity corrosion and wave-load management for the floating solar components. ## Financial Projections Total estimated CAPEX is AUD $4.2 billion for a 1.5GW facility. Revenue streams include spot market electricity sales, Large-scale Generation Certificates (LGCs), and long-term Power Purchase Agreements (PPAs) with green hydrogen producers. Market forecasts indicate electricity prices in the NEM will remain volatile but weighted toward premium values during low-wind/high-solar or high-wind/low-solar periods, which this hybrid plant is uniquely positioned to exploit. ## Risk Assessment Key risks include supply chain bottlenecks for specialized vessels, environmental impact concerns regarding marine life, and regulatory delays in grid connection approvals. Mitigation involves early engagement with the Clean Energy Regulator and securing long-term supply agreements.