QIC is engaging with potential partners to deliver localised energy solutions in Queensland’s North-West Minerals Province (NWMP).
A market sounding process is now underway for QIC’s $200 million North West Energy Fund (NWEF) which was announced as a key initiative in the Queensland Energy Roadmap.
The Roadmap identified the need to establish a fund that supports developers, generators, electricity distributors, suppliers, customers and local governments to improve energy supply into one of the world’s richest mineral’s producing regions – opening up economic development opportunities in the region.
Through the NWEF, QIC will consider options ranging from new renewable energy generation projects and battery energy storage systems to broader support for the North West Power System, as well as informing planning for the CopperString project between Hughenden and Mount Isa.
The initial focus of the NWEF will be on the assessment of energy delivery solutions and potential market reforms that address systemic issues to deliver more affordable and reliable energy supply, and accommodate the anticipated future growth of the state’s North West, particularly Mount Isa, Cloncurry, Julia Creek and Richmond.
The Fund is running in parallel to the accelerated delivery plan for CopperString between Townsville and Hughenden, which is expected to commence construction in 2028.
QIC Head of Global Infrastructure Ross Israel said the market sounding demonstrated how QIC was engaging key stakeholders to understand and better facilitate the connection of private capital with priority projects in the North West with backing from the state government.
Queensland’s energy transition is creating a multi-decade pipeline of infrastructure and our role is to turn the objectives of the Queensland Energy Roadmap into investable projects that deliver reliable, affordable and lower-emissions energy outcomes for the state
Ross Israel - Head of Global Infrastructure, QIC
"Through the North West Energy Fund, we have a clear and credible pathway for investors to coinvest with us on projects which will be identified as a priority the region which leverage the need from customers for flexible and pragmatic solutions in the near term.
“For developers, generators, customers and suppliers with an interest in the NWMP, there is now the opportunity to leverage a dedicated fund supporting investment in and around areas like Mount Isa, Cloncurry, Julia Creek and Richmond.
“QIC will work to ensure an optimal outcome for customers in the region through investments in energy storage and distributed generation solutions that place downward pressure on prices in the region.”
For more information on QIC initiatives in the Energy Roadmap visit https://www.qic.com/QLD-Energy.
