December 4, 2024
Queensland Treasurer David Janetzki plans to meet with Queensland Hydro – the corporation responsible for the Borumba Pumped Hydro project – this week “to work out a way forward to save the project”.
This follows the revelation by the State Government on Wednesday the project is billions of dollars over budget and years behind schedule.
The State Government says a report commissioned by the previous government showed the overall cost of project had blown out by $4 billion, taking the total to more than $18 billion.
The report, by Queensland Hydro, also stated there was less than a 1 per cent chance of the project being completed in time for its planned first power in 2030; the risk-adjusted final completion date was now July 2035 not November 2032.
Mr Janetzki said Labor’s energy policy “was a house of cards waiting to collapse”.
“The report shows the former Labor Government’s timing and costings were pie in the sky. They might as well have been made up entirely,” he said.
“The government will deliver an energy policy guided by engineering and economics, not ideology. Our energy policy will always be grounded in reality, on cost, timeframes, and delivery.”
Mr Janetzki said he would meet with Queensland Hydro to work out a way forward to save the project on Thursday, covering off environmental, stakeholder and cost issues.
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- Site Works Continue On Dam Project
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- MP Urges Input Into Dam Impact
- Pumped Hydro EIS Process Begins
- Canberra Rally Attacks Dam Project
- Rally Against ‘Reckless Renewables’
- MP Calls For Renewables ‘Pause’
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- Public Meetings For Power Project
