HISTORIC NEW RENEWABLES TARGETS FOR QLD IN NEW ENERGY PLAN

During her State of the State address today, Premier Palaszczuk has unveiled historic renewable energy targets for Queensland:

• A 2032 renewables target of 70%, and

• A 2035 renewables target of 80%.

These targets will be supported by the Borumba Hydro Project which will be completed by 2030, and will deliver 2 gigawatts of 24-hour energy storage. A preferred location has been decided for a second pumped hydro project, 70 km west of Mackay, to be known as the Pioneer-Burdekin pumped hydro project.

The targets will be supported by government investments of over $62 billion, including a "SuperGrid" connecting solar, wind, battery and hydrogen generators across the State.

There will be a 50 per cent reduction in electricity sector emissions on 2005 levels by 2030 and a 90 per cent reduction in electricity emissions by 2035-36.

Initiatives in the plan include:

• Unlocking 22GW of new renewable capacity – giving us 8 times our current level

• Publicly owned coal fired-power stations to convert to clean energy hubs to transition to, for example, hydrogen power, with jobs guarantees for workers

• Queensland’s publicly-owned coal-fired power stations to stop reliance on burning coal by 2035

• 100,000 new jobs by 2040, most in regional Queensland

• 11.5GW of rooftop solar and 6GW of embedded batteries

• 95% of investment in regional Queensland

• Building Queensland’s first hydrogen ready gas turbine

• Projects subject to environmental approvals.

The renewable energy and jobs fund will be increased from $2 billion to $4 billion.

The Premier said that Queensland's publicly owned coal-fired power stations will continue to provide energy until the pumped hydro projects come on-line; however they will convert to clean energy hubs to transition to, for example, hydrogen power, with jobs guarantees for workers.