The Australian parliament recently endorsed the Offshore Electricity Infrastructure Bill 2021 (Bill) which will provide a framework for construction, operation, maintenance, and decommissioning of offshore electricity projects, with a view to establishing a more reliable, affordable, and secure energy system.

The long-awaited legislation will enable new investment into offshore electricity generation and transmission and will provide significant opportunities for domestic and international developers and investors to be at the forefront of this new space in Australia's energy landscape.

Click here to read our previous alert which outlines the key details of the Bill, which passed through Parliament without amendment.