The Australian government is reducing fees and levies for offshore wind developers in a bid to boost jobs and regional growth.
Officials said the measures will temporarily lower financial barriers to feasibility and demonstration projects, helping reduce the risk of developers exiting the market at a critical stage.
For the next two years, annual levies on feasibility and research licences will be waived, transmission and infrastructure levies halved, and application fees significantly reduced.
The government is also easing reporting requirements and lowering capital obligations by reducing the need for licence holders to hold 150% of estimated project costs in reserve.
Ministers said the changes will support investment in offshore wind, which is expected to contribute to energy security, regional development and job creation.
Regulations to implement the relief are expected later this year, with a full review of cost recovery arrangements underway.