The Queensland government has announced the world’s biggest pumped hydro energy storage facility as part of a $62-billion commitment to the “clean energy industrial revolution”.
The project slated for Pioneer Burdekin west of Mackay will be bigger than the Snowy Hydro project and power half of Queensland, according to Queensland premier Annastacia Palaszczuk, who described it as “the battery of the north”.
Speaking at the CEDA State of the State address, Palaszczuk said the state government would commit to a $4-billion investment over the next four years to kickstart the transition to renewable energy.
Development of the renewable energy sector will be focused on regional Queensland, with about 7900 construction jobs to build out the infrastructure.
The premier encouraged investors and developers to get on board as part of the $62-billion public private partnership to build out the 10-year energy and jobs plan.
“We must invest now, not just for our climate,” Palaszczuk said.
“We must address this issue at the same time we focus on new job opportunities to bring everyone along with the clean energy industrial revolution on our doorstep.
“The race is on to secure clean energy supply chains.
“This isn’t a sprint, or even a marathon, this is a triathlon, it’s a race over three legs that are all happening at the same time.”
Palaszczuk said coal-fired power stations would progressively become “clean energy hubs” from 2027.
She also said the state government's new renewable energy targets—of 70 per cent by 2032 and 80 per cent by 2035—would be enshrined in legislation, and Queensland would transition away from coal by 2035.
The energy plan includes two pumped hydros by 2035: the first at Borumba Dam and a second site at Pioneer-Burdekin.
As part of the plan there would also be a new transmission “super grid” to connect renewable storage with established regional centres.
Palaszczuk said the super grid would deliver about 1500km of transmission lines from Brisbane to North Queensland and out to Hughenden.
The premier said she wanted the Sunshine State to become a clean-energy superpower.
Regional areas are in the boxseat to capitalise on the pipeline of renewable energy projects.
But a recent CSIRO-Construction Skills Queensland report signalled the state needed an additional 27,000 construction workers to make it happen, as well as the new housing and infrastructure to support the developments.
Renewable energy is an entirely new industry in many regional areas, which will have flow-on effects across commercial and residential property developments.
PRD Real Estate’s chief economist Diaswati Mardiasmo said the volume of residential developments planned in regional areas in 2022 and 2023, particularly for stand-alone houses, was much greater than for capital cities, in part due to the renewable energy development boom.
A new wind or solar project built in a regional area could deliver a significant boost to the region’s economy, providing opportunities for local businesses across the economy, including hospitality, retail, fencing, roads and security—and ramping up demand for housing.
