Australia launches AUD 200 million fund for generation, storage in mining region
The state government of Queensland in Australia is seeking proposals for new solar, wind, battery storage, and other energy projects through a AUD 200 million ($143.3 million) funding program aimed at strengthening electricity supply in the country’s remote northwest.
The call covers new solar and wind projects, battery energy storage systems, and other initiatives supporting the northwest Queensland power system under the North West Energy Fund (NWEF).
The NWEF was established as part of the state government’s changes to the proposed CopperString transmission project, which aims to connect north and northwest Queensland with the National Electricity Market (NEM) via a new link between Townsville and Mount Isa.
The fund, managed by state-owned Queensland Investment Corp. (QIC), is designed to support the delivery of new energy generation and storage solutions in partnership with the private sector across Mt Isa, Cloncurry, Julia Creek and Richmond while the CopperString transmission project progresses.
QIC said the AUD 200 million fund will consider proposals ranging from new solar and wind projects, gas and battery storage systems, as well as broader support for the North West Power System.
Alongside progressing such solutions, the QIC said work will also be undertaken to inform planning for the CopperString Western Link between Hughenden and Mount Isa.
The call for proposals follows QIC’s market sounding with developers, generators, electricity distributors, suppliers, customers and local governments in and around Mount Isa, Cloncurry, Julia Creek and Richmond.
QIC head of global infrastructure Ross Israel said the market sounding had provided key insights that will allow QIC to fast-track opportunities to connect private capital with priority projects in the northwest.
“Supporting near-term investable projects that deliver reliable, affordable and sustainable energy will help unlock economic development opportunities in the northwest,” he said.
“A critical piece of this work will be undertaking the work required to define the end-state system to optimise the opportunity set in the region.”
“QIC’s role is to turn the objectives of the Queensland Energy Roadmap into investable projects that deliver reliable, affordable and sustainable energy and the North West Energy Fund presents a clear pathway for QIC to partner on near-term opportunities.
QIC has released investment guidelines highlighting key criteria, including a need for proposals to deliver benefits from, or reach commercial operations by 2030; and demonstrate an improved cost of delivered power in the northwest and/or surrounding regions.
Queensland Energy Minister David Janetzki said the NWEF builds on the state government’s commitment to deliver the CopperString project and progress economic development in the northwest.
“This fund enables us to pass on the benefits of CopperString to communities west of Hughenden while advancing the accelerated delivery of the project’s Eastern Link,” he said.
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