KOTRA sends renewable energy delegation to Australia to secure offshore wind supply chain

With Australia preparing to launch a major offshore wind tender, South Korean renewable energy companies are moving to establish a foothold in the market — targeting opportunities across the entire supply chain, from offshore wind substructures to renewable fuels.

The Korea Trade-Investment Promotion Agency (KOTRA) said Thursday it dispatched the 2026 Australia Renewable Energy Trade Mission to Melbourne for three days beginning Tuesday, in partnership with the Korea Energy Agency and the Wind Support Structure System Energy Innovation Research Center at Kunsan National University.

Eleven South Korean offshore wind-related companies and institutions took part in the mission. KOTRA timed the consultations to coincide with Australia Wind Energy 2026, the country's largest wind energy exhibition, which ran Wednesday and Thursday at the Melbourne Convention and Exhibition Centre and drew more than 8,000 industry participants and over 200 exhibiting companies.

Australia has drawn growing attention as a renewable energy investment destination, backed by its vast maritime territory and abundant wind resources. The Australian government is expanding investment in renewable power generation and energy storage as it pursues a target of raising the share of renewables in the electricity grid to 82 percent by 2030. A capacity investment regime supporting renewable energy and battery storage has also emerged as a key policy tool.

Victoria state is set to launch Australia's first offshore wind industry tender process in August, with the initial tender set at 2GW. KOTRA said it views early entry into the supply chain as critical, given that the Australian offshore wind market is now opening in earnest.

The mission focused particularly on the substructure segment — the foundations needed to install offshore wind turbines at sea. Participating Korean firms cover all project phases, including development, site investigation, component manufacturing, and transportation and installation. KOTRA's Melbourne trade office pre-arranged one-on-one consultations with local developers.

Major local developers at the consultations included Ørsted, Ocean Winds, Iberdrola and EDF Power Solutions. A total of 40 meetings were held, during which participating companies discussed prospects for joining Australian offshore wind projects and explored potential cooperation.

A representative of Ramboll, a global engineering consultancy that took part in the mission, said Australia is considered one of the world's most promising renewable energy markets, with onshore wind already a mature segment. "Offshore wind is also entering a full-scale tendering phase, making it a field with strong growth potential," the representative said. "We hope Korean companies will take an interest in entering the Australian market."

Alongside the mission, KOTRA published a report titled "Analysis of Australia's Renewable Fuels Market Opportunities Under the Carbon Neutrality 2050 Initiative." The report examines the market for renewable fuels produced from waste cooking oil, livestock manure and similar feedstocks. Because renewable fuels work with existing oil and gas infrastructure and engines, they are gaining attention as an alternative fuel in sectors where electrification is difficult, including aviation, mining and transportation.

Australia is pursuing a low-carbon transition not only in electricity but also in fuels, in line with its 2050 carbon neutrality goal. Demand for renewable fuels is expected to grow particularly in aviation fuel, mining equipment fuel and long-haul transportation. KOTRA said it sees potential demand for Korean companies' technology and equipment across the entire supply chain, from production infrastructure to retail distribution.

Kim Myeong-hui, KOTRA executive vice president and head of the Industrial Innovation and Growth Division, said she hopes the mission will help Korean companies secure an early position in Australia's offshore wind supply chain while opening a path for the regional wind industry to compete on the global stage. "KOTRA will mobilize its full network of local government and industry contacts to provide continued support for Korean companies entering the Australian market," Kim said.