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Queensland is one step closer to its target of 50 per cent renewable energy by 2030 with ten 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, enabling up to 400MW of new generation and storage.

CleanCo is working with ten short-listed renewable energy proponents to boost its starting pack, which includes the Wivenhoe and Swanbank E 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.

“From 31 October, CleanCo will take over the 570MW Wivenhoe pumped storage hydro station, the 385MW 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 400MW of solar and wind energy, and battery storage into the market.

CleanCo will seek binding bids from ten proponents to supply renewable energy and recommend projects to government from the beginning of 2020.

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