Queensland announces $200m for sustainable energy in the North West

The Queensland Government has announced that market sounding is underway on the state’s $200 million North West Energy Fund, supporting CopperString.

Speaking in Townsville, Treasurer and Energy Minister David Janetzki announced Queensland Investment Corporation (QIC) has commenced market sounding on the North West Energy Fund with more than 20 organisations engaged to participate.

The Fund will support local generation and storage solutions in partnership with the private sector across Mt Isa, Cloncurry, Julia Creek and Richmond, with a key focus on projects that can be fast-tracked for investment.

“This Fund ensures communities west of Hughenden are supported as work continues on the accelerated delivery of the project’s Eastern Link,” he said. “As part of the market sounding process, energy developers, generators, electricity distributors and suppliers, users as well as local councils, are being engaged.”

Janetzki said the Energy Roadmap had identified improved supply in the region as a priority to support affordable, reliable and sustainable energy.

“The North West Minerals Province is one of the richest mineral-producing regions in the world and delivers significant benefits for the Queensland economy,” he said. “To progress economic development in the North West, we need investment in flexible solutions that reduce the reliance on gas for baseload electricity consumption.”

As part of the government’s commitment to CopperString, $50 million in legacy projects will also be delivered to communities in the state’s north and north west through the Community Benefits Fund.

For more information, visit https://www.qic.com/QLD-Energy.

Image credit: iStock.com/Lyndsey Sumpton