Australia's Wind Energy Surge: Key Milestones Powering the Green Transition

May 02, 2025 02:40 PM AEST | By Team Kalkine Media

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Australia's Wind Energy Surge: Key Milestones Powering the Green Transition — Image source: Shutterstock

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Highlights

Wind now leads Australia’s renewable energy generation

$5.9 billion invested in new wind projects in 2024

Offshore wind gains momentum with regulatory approvals

Australia is rapidly emerging as a wind energy powerhouse, with 2024 marking a pivotal year in the sector's contribution to the national electricity mix. According to the Global Wind Energy Council (GWEC), the country is uniquely positioned thanks to its exceptional onshore and offshore wind resources—considered among the best globally.

Wind energy generated 32,519 gigawatt-hours (GWh) of electricity last year, accounting for 33.5% of all renewable generation. This achievement places wind as the top contributor to Australia’s clean energy supply. Overall, renewable sources made up 40% of the nation’s electricity generation in 2024, with wind alone contributing 13.4%.

The year also saw the successful grid connection of seven new onshore wind farms, and several more are under active construction. Investment momentum returned with strength, as $5.9 billion was committed to eight new onshore wind projects. These developments will collectively add 2.2 gigawatts (GW) of capacity, reinforcing Australia's long-term renewable goals.

Previously, the industry faced hurdles due to policy uncertainty, cost challenges, and regulatory bottlenecks. However, federal and state efforts to streamline project approvals—particularly through mechanisms like the expanded Capacity Investment Scheme—have renewed confidence among developers. Companies with a footprint in wind infrastructure may find the current environment favourable for strategic expansion.

As of now, all of Australia’s operational wind capacity is land-based. However, 2024 marked a breakthrough for offshore wind, with major developments shaping the future of the sector. Regulatory milestones were achieved with the finalisation of consultations and area declarations for the Southern Ocean, Illawarra, Indian Ocean (Bunbury), and Bass Strait (Northern Tasmania). These locations now join Gippsland and the Hunter as officially declared zones for offshore wind development.

This surge in wind energy activity also draws attention in broader market contexts, especially for those tracking developments in the ASX200. As the clean energy sector continues to scale, companies linked to energy infrastructure and renewables may have an increasing impact on the index.

For investors seeking dividend stability with exposure to long-term infrastructure themes, related clean energy firms might also be relevant in the ASX dividend stocks segment. These developments position the wind sector not only as a key environmental asset but also a potentially valuable economic contributor.

Companies such as Origin Energy (ASX:ORG), Infigen Energy (ASX:IFN), and Tilt Renewables (ASX:TLT) are among those with interests or past involvement in Australia's wind infrastructure expansion, signaling a vibrant growth phase for clean power in the country.

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