The Queensland government has extended financial support for the development of 2.3 GW of large-scale renewable energy projects.

• The Queensland government has announced an allocation of AUD 500 million (USD 330.4m/EUR 309.3m) to CleanCo, the state's publicly-owned clean energy corporation. The funds will be utilized for the development of new wind and solar power projects, which will contribute up to 2.3 GW of power.

This financial support, revealed earlier this month, is part of the state’s strategy to reach its 70% renewable energy goal by 2032. Mick de Brenni, the Minister for Energy, Renewables, and Hydrogen, expressed that the investment will help decrease emissions in locally-produced goods and will bolster the competitiveness of the domestic heavy industry sector.

Central Queensland, a significant area for the state’s heavy industry, will be the key region for the expansion of large-scale renewable energy facilities. This move will generate up to 4,000 new jobs during the construction phase of the new wind and solar parks.

“We're extending an invitation to the world's largest corporations to make regional Queensland their base by offering the optimum conditions for business, particularly for providing clean, affordable, and dependable energy,” said the Energy Minister.

Along with CleanCo’s funding plan, the Queensland government has also released a draft bill. This proposes a legislative change for a renewable energy target of 80% by 2035 and aims to repurpose the state's coal-fired power stations into hubs for clean energy. The strategy also includes constructing 22 GW of new wind and solar parks and installing grid-scale batteries and pumped hydro storage facilities.