Queensland’s publicly-owned clean energy company CleanCo will receive AUD 500 million (USD 330.4m/EUR 309.3m) in government funding to deploy up to 2.3 GW of new wind and solar power projects in the Aussie state.
The funding, unveiled by Queensland’s government earlier this month, is aimed at supporting the state in achieving its 70% renewables target by 2032. According to Mick de Brenni, Minister for Energy, Renewables and Hydrogen, the investment will help lower emissions in locally-made products, making the domestic heavy industry “highly competitive.”
A major focus will be put on installing large-scale renewable energy capacity in Central Queensland as it is currently the home of much of the state’s heavy industry. During the construction of the new wind and solar parks, up to 4,000 jobs will be created.
“We are inviting the world’s largest companies to call regional Queensland home by offering the best place to do business, especially when it comes to delivering clean, affordable and reliable power,” the Energy Minister said.
The government’s spending plan for CleenCo was announced along with a draft bill that legislates an 80% renewable energy target by 2035 and sets an objective to transform the state’s coal-fired power stations into clean energy hubs. The plan envisages the construction of 22 GW of new wind and solar parks, along with grid-scale battery and pumped hydro storage facilities.
(AUD 1.0 = USD 0.661/EUR 0.619)