Part 7/9:
On the ground, renewable projects face increasing hurdles. Notably, Blue Flow, an offshore wind developer, recently abandoned its plans for one of Victoria’s most advanced offshore wind projects after failing to secure a buyer. Lloyd remarks that this isn't an isolated incident: a flood of delays and cancellations are sweeping across Australia's renewable sector, particularly in offshore wind, making progress increasingly difficult.
The failure to attract bids for offshore projects signals waning investor confidence and highlights the challenge of scaling these technologies within Australia. Lloyd notes that international companies are now pulling back from Australia, reducing their operations elsewhere, which underscores the uncertain future of offshore wind development down under.