Norway’s Equinor has finalised its investment in floating wind projects off New South Wales, Australia, joining local developer Oceanex to advance a gigascale portfolio there.

The oil & gas group – a pioneer of floating wind in Europe – will work with Oceanex on the Novocastrian, Illawarra and Eden projects under a partnership first announced in August and subsequently approved by Australia’s Foreign Investment Review Board, clearing the way for the deal’s completion.

Andy Evans, CEO of Oceanex and a pioneer of Australian offshore wind, said: “Our partnership is a great example of a global leader working with a local partner to develop a critical industry for NSW and Australia

“Activities will ramp up significantly from now.