- The Crisafulli Government's $200 million North West Energy Fund opens to proposals.
- The Fund will deliver localised energy solutions and pay forward the benefits of CopperString to the State's North West.
- Opportunities that support industry and communities across the region continue to be fast-tracked.
- The Crisafulli Government is delivering a plan for Queensland's future and a better lifestyle through a stronger economy after a decade of decline under Labor.
The Crisafulli Government is delivering more opportunities for investors to support energy solutions in the State's North West, as it continues to deliver CopperString, the biggest energy project in North Queensland's history, which blew out by $12 billion under Labor.
Proposals are now open for the Crisafulli Government's $200 million North West Energy Fund, following strong interest from key market participants.
A key initiative of the Crisafulli Government's Energy Roadmap, the Fund will support local energy solutions in and around Mount Isa, Cloncurry, Julia Creek and Richmond to boost reliability and help drive down long-term power costs.
The Fund is intended to enhance reliability of electricity supply in the North West Minerals Province and surrounding regions, including through gas, storage and wind and solar projects.
The Crisafulli Government's Energy Roadmap is delivering affordable, reliable and sustainable power for Queenslanders, after the former Labor Government oversaw a 19.9 per cent increase in power bills in a single year.
Treasurer and Minister for Energy David Janetzki said the Fund builds on the Crisafulli Government's commitment to deliver CopperString from Townsville to Mount Isa.
"Our word matters and when we said we're saving CopperString we meant it," Treasurer Janetzki said.
"This Fund enables us to pass on the benefits of CopperString to communities west of Hughenden while advancing the accelerated delivery of the project's Eastern Link.
"Under Labor, CopperString would have never seen the light of day. We're delivering it for the North and North West and together with it the jobs, economic growth and wealth-creating opportunities."
Treasurer Janetzki said the North West Energy Fund backed practical projects to deliver more affordable and reliable power while supporting the industries and communities that drive our economy.
"Strong feedback was received during market sounding and new renewable energy generation to service the Dugald River Mine is already being considered, alongside other proposals," he said.
"To progress economic development in the North West, we need investment in flexible solutions that reduce the cost of energy to make industry more competitive.
"The North West Minerals Province is one of the richest mineral producing regions in the world, potentially holding $700 billion in critical minerals. Further unlocking opportunities will help deliver even more benefit for Queensland's economy."
The Crisafulli Government is continuing to advocate for a reduction in power bills in regional Queensland, following the Energy Regulator's Default Market Offer confirming power costs will fall between 7.2 and 10.7 per cent for households and between 10.4 and 14 per cent for small businesses next financial year in South East Queensland.
The North West Energy Fund is being delivered by Queensland Investment Corporation (QIC) with Investment Guidelines for the fund available at www.qic.com/QLD-Energy.
As part of the Crisafulli Government's commitment to CopperString $50 million in legacy projects is also being delivered to communities in the State's North and North West through the Community Benefits Fund.
