Mainstream Renewable Power ("Mainstream"), the pureplay global wind and solar
company majority-owned by Aker Horizons ASA, announced that Gippsland Skies
Offshore Wind ("Gippsland Skies"), a consortium of Australian and international
companies, comprising Mainstream Renewable Power, Reventus Power, AGL Energy and
DIRECT Infrastructure, has been granted a feasibility licence by the Federal
Minister for Climate Change and Energy, for a fixed bottom 2.5 GW offshore wind
project off the Gippsland region of Victoria.

The feasibility licence was awarded following a highly competitive merit-based
selection process, and it is expected to be one of Australia's first offshore
wind projects to reach commercial operation.

With a feasibility licence secured, a series of detailed studies and multi-year
offshore and onshore environmental surveys will commence, subject to approval
processes, alongside consultation with First Nations peoples and community
stakeholders.

The first phase of the project is expected to be operational in 2032,
contributing significantly to the Victorian Government's offshore wind targets
of at least 2 GW by 2032 and 4 GW by 2035. When fully operational, this project
could power up to 1.4 million Victorian homes which is equivalent to supplying
approximately 17 percent of the State's 2023 electricity demand.

Gippsland Skies could contribute $A3.7 billion to the economy and could provide
4,700 direct jobs in Australia over the estimated 40-year project life, with
approximately 2,000 of those jobs in the Gippsland region.

Mary Quaney, Group CEO for Mainstream Renewable Power, said: "Mainstream is a
pioneer in the global offshore wind industry and our track record includes
developing the world's largest offshore wind project in operation today