Stanwell commits CQ’s hydrogen future
Posted on March 30th, 2022
The future is looking clean for Central Queensland with Queensland Government owned energy company, Stanwell Corporation signing the Central Queensland Statement of Cooperation today.
Deputy Premier and Minister for State Development Steven Miles said commitments like this help to propel Central Queensland towards becoming a renewable energy powerhouse, as part of Queensland’s plan for economic recovery.
As the world shifts towards decarbonisation, this is unlocking opportunities for Queensland to create more jobs. Bringing together key players in the region, leverages our state’s traditional strengths to thrive in the global transformations ahead.
Stanwell will join Rio Tinto Australia, Alpha HPA, Orica and ACCIONA, and work with Government to unlock more renewable opportunities for the state, starting in Central Queensland.
With major Japanese and domestic partners, the company is progressing their feasibility study for a large-scale green hydrogen project to supply both domestic and export customers.
Queensland is on the cusp of establishing a large-scale renewable hydrogen industry through Queensland’s publicly-owned power company Stanwell. Stanwell is a major player in the renewables sector, and their landmark Memorandum of Understanding with ACCIONA will enable Queensland’s largest solar project providing clean and renewable energy to one of Australia’s largest and most promising green hydrogen projects, expected to drive $4.2B in hydrogen exports. Renewables and green hydrogen are the fuel to create more jobs and more industry for Queensland.
Stanwell’s Chief Executive Officer Michael O’Rourke said the company has been developing strategic partnerships across the supply chain to support the development of Queensland’s renewable energy future.
“We want to provide low emissions solutions to commercial and industrial retail customers by developing a high-quality, value-for-money pipeline of renewable energy projects and this the Statement of Cooperation will help us achieve that goal,” Mr O’Rourke said.
The Statement of Cooperation will secure the future competitiveness of Queensland, adding value to a natural energy advantage to drive employment and economic outcomes for the state by focusing on three areas:
- Committing to industry by establishing certainty for current industry and growing demand.
- Delivering a globally competitive energy solution that is centred around firmed, low-carbon electricity for industry.
- Growing the industries of the future in Central Queensland by creating an enabling regulatory environment, strengthening regional skills and employment to lower capital intensity, and planning for the infrastructure to enable industry development.
The Queensland Government’s ambitious target to get to net zero emissions by 2050 is creating opportunities with more jobs in more industries right along the renewable energy supply chain.
Read more about Queensland’s Hydrogen Strategy and the $3.34 Billion Queensland Jobs Fund.
