Stanwell seeks renewable projects for portfolio

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Stanwell is casting the net nationwide for expressions of interest from renewable energy projects looking to play a key role in Queensland’s transition to a lower carbon future.

Stanwell CEO Richard Van Breda said that Stanwell was undertaking an expression of interest process to identify high quality renewable energy projects based in Queensland that could be incorporated into Stanwell’s portfolio.

“The energy market is changing rapidly, and we are evolving our business in line with our customers’ changing needs and community sentiment for greener energy and lower emissions,” Mr Van Breda said.

“Through our expression of interest process, we will build a portfolio of renewable projects that meet our retail customer requirements, support the development of Queensland’s large-scale renewable industry, and enable us to diversify our portfolio and reduce our carbon intensity.”

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Mr Van Breda said the expression of interest process would also play an important role in Queensland’s post-COVID economic recovery, particularly in terms of economic investment and supporting employment and job creation.

“We are excited about our future and the important role we will play in ensuring Queenslanders have access to secure and reliable energy as the energy sector transitions to lower carbon generation alternatives.”

The expression of interest process is now open. Interested projects should register their interest before 3 pm AEST on 24 March 2021.

For more information on the EOI process, visit the QTenders website at https://qtenders.hpw.qld.gov.au/qtenders/ and search ”Renewable Energy Projects EOI”.

Solar Citizens have congratulated Stanwell for moving quickly to identify high-quality renewable energy projects that could be added to their portfolio. 

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“For decades Queenslanders have voted to keep the majority of the electricity system in public hands, but so far it has mainly been the private sector that has seized the opportunities to develop and operate new solar, wind and storage plants,” Solar Citizens’ national director Ellen Roberts said.

“Labor’s  $500 million Renewable Energy Fund was a very welcome first step, however we’ll need to see a lot more investment in publicly-owned solar, wind and storage projects as coal assets edge closer to retirement.

“We’ve just recently seen the state’s coal and gas assets decrease their value by over a whopping $1 billion as more cheap solar and wind energy comes online. It’s likely that they’re heading for early retirement. 

“The state-owned generators need to act fast to diversify their revenue to continue to provide returns for Queenslanders. 

“Investing in more publicly-owned clean energy generation will deliver long-term rewards for all Queenslanders, as the profits go back to funding vital services like schools and hospitals.”