The Star of the South is located off the south coast of Gippsland, Victoria, south-east of Melbourne. The site is situated 10-25km off the coast in the Bass Strait and has a total expected capacity of up to 2,000MW.
The project has so far been developed solely by Offshore Energy. Further development of the site will be undertaken jointly by the partnership. Copenhagen Offshore Partners (COP) will lead the technical development of the project on behalf of CIP.
The project includes up to 250 wind turbines within a 574 km2 area, which would deliver around 8,000GWh of electricity per year. This is approximately 18 per cent of Victoria’s power usage or enough to power 1.2 million homes.
If successful, it is anticipated, that the project will generate investments of around USD 8bn, create 12,000 jobs during the construction phase and 300 ongoin operational and maintenance jobs.
PensionDanmark has made a EUR 540m commitment to CIP’s fourth fund, CI III, which held a final close in March, 2018, at EUR 3.5bn. PensionDanmark is the largest investor of the fund.