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Queensland’s next wave of renewable energy and regional jobs is about to be unleashed with 10 projects competing for contracts to kick start new regional investments and a new clean energy generator.

Energy Minister Dr Anthony Lynham said Queensland’s third publicly-owned electricity generator, CleanCo, would commence trading in the national electricity market on 31 October, and encourage up to 400 megawatts of new generation and storage.

CleanCo is working with 10 short-listed renewable energy proponents to boost its starting pack, which includes the Wivenhoe (external site) and Swanbank E (external site) power stations near Ipswich and three Far North Queensland hydro power stations.

“This will increase competition and supply in the Queensland electricity market, putting more downward pressure on electricity prices for Queenslanders,” Dr Lynham said.

“Preliminary analysis indicates CleanCo should reduce wholesale electricity prices on average by around $7 per megawatt hour, which is expected to translate to an estimated $70 per annum saving for the average Queensland household

“There’ll be more new jobs building these projects in regional Queensland and the extra generation will also make our power supply even more reliable.

“This takes Queensland one step closer to our target of 50 per cent renewable energy by 2030.

“Unfortunately, the LNP has refused to support this program.

“Going by their track-record in government, when not one large scale renewable energy project was built, there’s no doubt they’ll see CleanCo as another Queensland-owned energy asset to sell.”

From 31 October, CleanCo will take over the 570 megawatt Wivenhoe pumped storage hydro station, the 385 MW gas-fired Swanbank E power station and the Kareeya, Barron Gorge and Koombooloomba hydro power stations from the state’s other publicly-owned generators, Stanwell and CS Energy.

CleanCo will also complete the Government’s Renewables 400 reverse auction, bringing up to another 400 megawatts of solar and wind energy and battery storage into the market.

Source: http://statements.qld.gov.au/Statement/2019/7/24/renewables-up-power-prices-down-as-cleanco-kicks-off