A re-elected Queensland Labor Government will aim to deliver their target of at least 50 per cent renewable energy by 2030 in an updated statement released yesterday as part of the election campaign.The Palaszczuk Labor Government has announced it will create a third publicly owned power generation company with a mandate to deliver 1,000MW of new renewable energy projects for Queensland.
A down payment of up to $50 million has been pledged to support a baseload solar thermal power station, which can power Queensland even at night.
The promise for affordable energy for Queenslanders would include the following:
- Keeping the state-owned electricity network and generation assets in public hands
- Locking in the target of at least 50 per cent renewable energy generation in Queensland by 2030
- Establishing ‘CleanCo’ – re-structuring the two publicly-owned electricity generation companies into three with a strategic portfolio of low and no emission power generation assets designed to reduce power prices
- Supporting delivery of at least 1000MW of new renewable generation through CleanCo
- Committing up to $50 million towards the development of Queensland’s own baseload solar thermal plant with storage
- Investing $97 million to install solar and energy efficiency measures in Queensland state schools
- Rolling out renewable energy solutions for remote and isolated communities
- Partnering with the Australian Energy Market Operator (AEMO) to investigate a sustainable energy solution for the Daintree
- Advocating for national policy certainty through consistent and integrated climate and energy policy.
- Progressing the development of hydro generation in Queensland.
The government states it "will create a new, publicly-owned, clean energy generation company – CleanCo – that will own a strategic portfolio of energy assets and deliver new renewable energy development on behalf of the people of Queensland.
"CleanCo will initially own a strategic portfolio of low and no emission electricity generation assets which will be aimed at bringing down electricity prices by incentivising the company to deploy its generation assets, and add competition to the market, at those peak demand times when electricity prices are the highest.
"A new generation company with this type of strategic portfolio will deliver more competition than existed in the market when Queensland’s conventional generation assets were operated by three generation companies."
There is also a promise to deliver at least 1,000MW of new renewable energy generation by 2025, focusing on energy generation like hydro and solar thermal with storage that can supply clean energy around the clock, to ensure that our electricity grid remains the most secure and robust power grid in the nation.