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Stock impact report

Australia grants feasibility licences for offshore wind farms [Reuters]

IBERDROLA SA S/ADR (IBDRY) 
NASDAQ:AMEX Investor Relations: iberdrola.com/shareholders-investors
Company Research Source: Reuters
SYDNEY, May 1 (Reuters) - Australia on Wednesday gave the go-ahead for six projects to study the feasibility of building wind farms in waters off its southern coast as it looks to ramp up renewable energy to meet its net zero emission target by 2050. Six others could also win feasibility licenses once they complete consultations with Indigenous groups, Energy Minister Chris Bowen said. The 12 projects, including proposals by wind giants Orsted and Iberdrola , off the state of Victoria would have generation capacity of 25 gigawatts (GW). That is more capacity than the state currently has but will be needed to replace coal-fired power. The feasibility licences will allow developers to undertake environmental assessments and geotechnical surveys in the proposed wind farm zone on the Gippsland coast. "The government's reliable renewables plan is unlocking offshore wind in Australia ... it is very much about planning for a reliable energy system years into the future," Bowen said Show less Read more
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