February 26, 2019
Legislation to create the State Government’s new electricity generator, CleanCo, has been introduced into State Parliament.
The publicly owned generator – which joins Stanwell Corporation and CS Energy on the government’s books – will work solely with renewable energy.
Its first assets will be transferred from the other two corporations.
It will inherit Wivenhoe Power Station at Wivenhoe Dam, Queensland’s only pumped storage hydroelectric plant.
It will also take over Stanwell’s gas-fired power station at Swanbank and the Barron Gorge, Kareeya and Koombooloomba hydro plants in far north Queensland.
“This is delivering on an election commitment and it will help drive down energy prices and support even more jobs in the renewable sector,” Energy Minister Dr Anthony Lynham said.
“CleanCo will be fully operating with its own generation assets this year and that means more jobs for more Queenslanders.
“This third, publicly-owned generator will help to increase electricity supply, driving down prices and cementing reliable supply for households, business and industry.
“CleanCo will build, own, operate and maintain a portfolio of clean energy assets for the benefit of all Queenslanders.
“It’s a long-term structural reform to the energy market that will give Queenslanders maximum competition benefits and increase investment in renewables in the longer term as we head towards a renewable future.
“Queensland has seen 21 large-scale renewable energy projects commence operations in just over two years, and we have another $2.5 billion worth of investment on the books.”
