$140.2m flows for hydro job

MORE than $140.2m will be invested in connecting the Kidston Pumped Hydro Project to the National Electricity Grid as part of the state government’s renewable investment.

This forms the bulk of the project, with it expected to cost $258.2m all up. An additional $62.08m is expected to be spent on the project into the future.

Energy, Renewables and Hydrogen Minister Mick de Brenni said the state government wanted to ensure Queensland had a future in renewables.

“This budget ensures Queensland will maintain its standing as a national energy leader for many years to come,” Mr de Brenni said.

“It will also ensure Queenslanders maintain a stake in their energy future through their publicly owned energy corporations, with the retention of dividends supporting continued renewable energy, storage and strategic network investments for the benefit of all Queenslanders.

“We are continuing to invest in those corporations to ensure reliable, clean and affordable power for Queenslanders at a time it has never been more important to do so.”

Mr de Brenni said the work for the Kidston Pumped Hydro Project was backed by a $40m investment to upgrade the transmission lines between Townsville and Cairns as part of the Northern Queensland Renewable Energy Zone.

Treasurer Cameron Dick said the new energy investment would complement the state’s existing $2bn Queensland Renewable Energy and Hydrogen Jobs Fund.

The state government will invest $1.41bn to improve electricity supply through Energy Queensland, which services some 2.3 million Queenslanders across the Energex and Ergon Energy and Yurika networks.