The state of Queensland in Australia has boldly moved towards increasing its share of renewable energy with the recent purchase of CopperString, a 1,100 km transmission line. The purchase is expected to unlock up to 6 GW of new renewable energy capacity across the region.
The transmission line was proposed over a decade ago, but more investment was needed. However, Queensland’s government has now stepped in and purchased the project for $5 billion, which has been hailed as a major milestone for the state’s renewable energy industry.
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Quotes attributable to the Premier of Queensland, Hon Annastacia Palaszczuk:
“North Queensland, the economic powerhouse of Northern Australia, today we are announcing the largest economic development project ever in Northern Australia.
“Unlocking affordable renewable energy and our critical minerals will benefit Townsville, Mount Isa and every town in between – unlocking thousands of jobs and billions in investment.
“Our government will deliver CopperString to provide affordable renewable energy to open up northwest minerals province. The 1,100 kilometre, $5 billion expanded CopperString project will be 100% government owned.
“CopperString will be the largest expansion of the power grid in the nation.
“Copperstring 2032 is game changing. By providing access to reliable, affordable and renewable power, we’re opening up Queensland for the next resources boom in critical minerals.”
Premier of Queensland, Hon Annastacia Palaszczuk
Townsville Enterprise was proud to host the Premier of Queensland, Hon Annastacia Palaszczuk and cabinet members at The Ville Resort-Casino.
This announcement marks more than a decade of advocacy by the leaders of North and North West Queensland and Townsville Enterprise.
CopperString 2.0 Project
The acquisition of CopperString is expected to create over 750 jobs during the construction phase, with another 1,500 indirect jobs expected to be created in the supply chain. In addition to the economic benefits, the project is expected to provide significant environmental benefits by increasing the share of renewable energy in Queensland’s electricity mix.
Queensland’s government has set a target of 50% renewable energy by 2030, and the CopperString project will go a long way towards achieving that goal. The transmission line will connect the North West Minerals Province, which is home to a number of renewable energy projects, to the National Electricity Market (NEM).
The NEM is a wholesale electricity market in eastern and southern Australia. Adding the North West Minerals Province to the network will increase competition and drive down consumer electricity prices. It will also provide much-needed grid stability and reliability to the region, which has historically been subject to power outages and blackouts.
The CopperString 2.0 project will link northwest Queensland with the east coast electricity grid.
Cost-related concerns
Once projected to cost $1.8 billion, CopperString was first announced by the Queensland government in 2020.
However, the Shadow Energy Minister, Pat Weir said that the price blowout would cost Queenslanders according to 7news Australia.
“How on earth has this project gone from $1.8B to $5B in 3 years? I think that’s the big question Premier’s gonna answer.”
Premier Palaszczuk told reporters in Townsville on Tuesday, “When you’re building bigger transmission lines, it is an increased cost.”
Queensland’s achieving its goal of 50% renewable energy by 2030
The CopperString project is just one of many initiatives Queensland’s government has implemented to increase the state’s share of renewable energy.
Other initiatives include a $2 billion Renewable Energy and Hydrogen Jobs Fund, which aims to attract investment in large-scale renewable energy projects and create jobs in the renewable energy sector.
Queensland’s government has also established a new Renewable Energy Zone in the state’s central west, expected to attract $20 billion in investment and create over 15,000 jobs in the renewable energy sector. The government has committed to investing $145 million in the zone over the next five years, with the aim of generating 15 GW of renewable energy capacity by 2030.
The CopperString project is a major step towards achieving Queensland’s renewable energy targets, and it is a sign of the state’s commitment to transitioning to a low-carbon economy. The project is expected to provide economic, environmental, and social benefits, demonstrating the important role that governments can play in driving the transition to renewable energy.
The purchase of CopperString by Queensland’s government is a significant milestone in the state’s renewable energy journey. The project is expected to create jobs, increase competition, and drive down electricity prices, while also providing much-needed grid stability and reliability. With initiatives like the CopperString project, Queensland is well on its way to achieving its goal of 50% renewable energy by 2030. It is paving the way for other regions to follow its lead in transitioning to a low-carbon future.
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Image&Sources: CopperString 2.0 FaceBook&website, Townsville Enterprise FaceBook, Annastacia Palaszczuk Twitter, 7news Australia
