Queensland renewable energy plan targets investment growth

A recently released Queensland Government renewable energy plan aims to position the state as a major competitor for new renewable energy investment, projects and industry growth.

Queensland Energy Minister Stephen Robertson (pictured above) presented the Queensland Renewable Energy Plan (QREP) 2012 to industry following a comprehensive review of the Queensland Government’s original renewable energy plan launched in 2009.

QREP 2012 refocuses the Queensland Government’s renewable energy agenda with three objectives: accelerating deployment of projects and renewable energy infrastructure; introducing regulatory reform; and developing stronger partnerships and links to strengthen technology research and development and attract Commonwealth and private investment for new projects.

“The Bligh Government is strongly committed to a clean energy future for Queenslanders and addressing climate change through our ClimateSmart 2050 and Toward Q2 policies,” Mr Robertson said.

“QREP 2012 places Queensland front and centre of Australia’s clean energy future.”

The plan will position Queensland to leverage up to $8.9 billion in renewable energy investment and deliver 9000GW hours of renewable energy generation by 2020, Mr Robertson said. The government also plans to create up to 3500 new green jobs and reduce greenhouse gas emissions by up to 40 million tonnes.

“The plan also establishes Queensland’s case as a major competitor for new renewable energy investment, projects and industry growth in Australia,” he said.

“Substantial opportunities will emerge for Queensland from this national plan. With a strong ongoing program of initiatives and new focus on collaboration and capacity building, QREP 2012 aims to position Queensland as a primary beneficiary.”

Mr Robertson said Queensland’s renewable energy future looks bright considering the goals they have achieved, including significant renewable energy success in just two years through the original QREP 2009. Queensland’s renewable energy generation capacity increased 66 per cent from 745MW in 2008 to more than 1235MW today – enough to power roughly 640,000 homes per year.

“We also smashed our 500MW Virtual Solar Power Station target three years early,” he said.

“Queensland’s renewable energy industry has attracted around $2.7 billion in total public and private investment and supports more than 1800 jobs.”

The Queensland plan follows Federal Government’s Clean Energy Future Plan announced last year, which includes more than $10 billion in new clean energy funding and targets up to $100 billion in private investment by 2050.