EDF Renewables, a subsidiary of the French global energy player EDF, has announced the acquisition of an up to 10GW floating offshore project in Australia.

The Newcastle Offshore Wind Farm,  which is currently under development and is considered one of the largest floating wind projects in the world, is expected to replace retiring coal-fired power stations.

The wind farm will be developed in stages to support the Australian Government’s renewable targets, the company said.

The Chief Executive Officer of EDF Renewables in Australia Dave Johnson commented: “This landmark project will be developed in collaboration with a strong local team based in Newcastle and will require the establishment of an entirely new industry in Australia.

“I am very confident that this project will play a crucial role in providing new opportunities for employment, establishing new business and the revitalisation of existing business looking to transition from existing industries.”