Registrations for the Queensland Government’s 100MW renewable energy auction are now open.
Renewables 400, which is one of the initiatives in the Queensland Government’s $1.16 billion Powering Queensland Plan, was launched by Premier Annastacia Palaszczuk and Treasurer and Acting Energy Minister Curtis Pitt while visiting Century Batteries’ factory in Carole Park on Monday.
“Under this new initiative, we will support companies wanting to build the next generation of large-scale renewable and battery storage projects in Queensland, with priority given to projects that support local jobs and businesses,” Premier Palaszczuk said.
The Premier said the government’s focus was on a diversified energy mix, and attracting new investment and technologies to delivery long-term energy security and put downward pressure on electricity prices.
“As part of the Renewables 400 program, the government will undertake a specific process to secure up to 100MW of energy storage prior to 2020,” she said.
“Energy storage will play an important role in the transition to higher levels of renewable energy and this process will support the accelerated deployment of this important technology.”
Minister Pitt said under the reverse auction process, companies would bid for Queensland Government support for both renewable generation and storage projects – most of which will be situated in the regions.
“Successful bidders will be awarded financial contracts with the government for some or all of the electricity they generate which will provide them with long-term certainty allowing them to secure the financing required to deliver their project,” he said.
“The ‘reverse’ nature of the auction process means that companies are encouraged to bid for the lowest price necessary to support their project.
“The criteria to select successful bidders will include not only price but also support for local businesses and jobs and with a view to creating a diverse mix of renewable energy generation and storage to support a secure, reliable and affordable supply of electricity into the future.”
Companies can register on the DEWS website.