Proposals that deliver more affordable and reliable energy to the state’s North West have been called for as part of the $200 million North West Energy Fund.
The Fund, a key initiative of the Queensland Energy Roadmap, is aiming to unlock partnerships that deliver localised energy solutions and open up economic development opportunities in the North West Minerals Province (NWMP).
The call for proposals follows QIC’s successful market sounding with developers, generators, electricity distributors, suppliers, customers and local governments in and around Mount Isa, Cloncurry, Julia Creek and Richmond.
The Fund will consider proposals ranging from new energy generation projects, gas and battery storage systems, as well as broader support for the North West Power System.
Alongside progressing localised energy solutions, work will also be undertaken to set out the operational and infrastructure requirements to coordinate and de-risk future investments in the region, informing planning for the CopperString Western Link between Hughenden and Mount Isa
To support the call for proposals, QIC has released Investment Guidelines for potential partners which highlight key criteria including a need for proposals to:
- Deliver benefits from, or reach commercial operations by 2030
- Demonstrate an improved cost of delivered power in the NWMP and/or surrounding regions
QIC Head of Global Infrastructure Ross Israel said the feedback from market sounding had provided key insights to allow QIC to fast-track opportunities to connect private capital with priority projects in the North-West.
We have shaped the Fund to support proposals from developers, generators, customers and suppliers with an interest in and around areas like Mount Isa, Cloncurry, Julia Creek and Richmond
Ross Israel - QIC Head of Global Infrastructure
“Supporting near-term investable projects that deliver reliable, affordable and sustainable energy will help unlock economic development opportunities in the North West.
“A critical piece of this work will be undertaking the work required to define the end-state system to optimise the opportunity set in the region.”
“QIC’s role is to turn the objectives of the Queensland Energy Roadmap into investable projects that deliver reliable, affordable and sustainable energy and the North West Energy Fund presents a clear pathway for QIC to partner on near-term opportunities."
Investment Guidelines are available at www.qic.com/QLD-Energy
