The Queensland Renewable Energy and Hydrogen Jobs Fund allows energy Government owned corporations to increase ownership of commercial renewable energy and hydrogen projects, as well as supporting infrastructure, including in partnership with the private sector.
The existing skills and expertise from the energy Government owned corporations will be used to engage with market proponents and identify commercial investment proposals, with opportunities for appropriate returns for government.
The Fund complements the commitment of $145 million to establish three Queensland Renewable Energy Zones – the northern, central and southern QREZs – to support significant renewables investment. In these areas, the government will undertake strategic network investments, streamline the development of new renewable energy projects, and work to match new and existing industrial energy demand with our low-cost renewable energy.
As outlined in the Queensland Energy and Jobs Plan, this funding will ensure publicly-owned energy businesses can continue to invest in renewable energy, storage and hydrogen projects in the QREZ regions, and will help deliver on the long-term targets for these regions to reach at least 25 gigawatts of total renewable energy by 2035.