Queensland pumps $26 billion into renewables race

Close-up of smiling Queensland Premier Steven Miles (emissions)
Queensland Premier Steven Miles

Queensland Premier Steven Miles has announced the largest ever investment in renewables in the nation ahead of the Queensland State Budget.

The upcoming budget will include a record $26 billion invested in the renewable energy and jobs plan over the next four years—a boost from the $19 billion in last year’s budget.

Related article: Report: Queensland leading Australia’s renewables race

This includes $16.5 billion towards renewable energy and storage projects, $8.5 billion to build the SuperGrid, including Copperstring and renewable energy zones, $500 million for network batteries and support of local grid solutions, and $192 million for the Transmission and Training Hubs in Townsville and Gladstone.

A capital investment of $8.686 billion will be delivered in the 2024-25 financial year alone.

Queensland’s renewable energy transition will support the state in achieving the landmark 75% by 2035 emissions reduction target and 80 per cent renewable energy by 2035 target, both enshrined in law.

Minister for Energy and Clean Economy Jobs Mick de Brenni said, “This budget ensures that Queensland will have the most desirable products, because they’re made with clean energy. We’ll grow our exports, resulting in more jobs and more prosperity.

“Queensland has much to protect in traditional industries, and we can if we decarbonise. We can protect jobs in industries like smelting, beef, and cotton, and we can create new industries which serve a decarbonising global economy—things like critical minerals, hydrogen, and sustainable aviation fuel.

Related article: Queensland Government doubles capacity of Stanwell battery

“It’s these new and existing jobs in critical industries that would be at risk under an LNP Government, who will not support renewable energy, or the jobs depending on it. Instead, the LNP supports burning more fossil-fuels for longer, and backing expensive and dangerous nuclear.”

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