Australia’s hardest delivery challenges no longer sit neatly inside single portfolios. Housing, transmission, ports, environment, and natural capital all rise or fall on coordination among agencies, approvals, procurement, and enabling infrastructure. It asks government to deliver energy, environment, ports, grid, industry, skills, finance and social licence, and to do so on a timetable that investors see as credible. It is tempting to frame offshore wind’s slow start as a simple pricing problem. Do the numbers stack up this year, in this tender, at today’s interest rates?