Renewable Energy and Resources: A Breakfast Not To Be Missed

It’s no secret that renewables are the future of energy in Australia and for the global economy. Less well known is how quickly this transition will take place and how far along the timeline we are. The Queensland Government’s energy targets demands that half of the state’s electricity generation be sourced from renewables by 2030, increasing to 80% by 2035. National legislation also requires Australia to reduce its greenhouse gas emissions by 43% compared with 2005 levels by 2030 and to reach net zero by 2050. To this end, Queensland boasts 54 large-scale renewable energy projects that are either operating, under construction or have been financially committed to since 2015.?

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Currently, only 27% of electricity is generated from renewable sources in Queensland, so while we’ve made progress, there’s still have a way to go. Figure 1 shows the breakdown of the renewable sources: 10.9% from rooftop solar, 9.2% from solar, 3.8% from wind, 2.2% from bioenergy and 1.2% from hydro. These proportions will continue to grow with initiatives unrolling over the next decade.??

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Initiatives include but are not limited to:?

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• Critical Minerals Exploration:?

Domestic and global commitments to net zero require significant and accelerated growth in the supply, processing, refining, and manufacturing of critical minerals. For Queensland, this offers opportunities not only to supply these essential minerals but also to develop local processing and advanced manufacturing industries, creating a thriving pit-to-product, onshore critical minerals sector. Queensland boasts some of the world's richest mineral-producing areas, with major deposits of copper, lead, zinc, nickel, cobalt, tungsten, graphite, vanadium, silica, silver, phosphate, and rare earths, especially in the North West Minerals Province. This abundance supports numerous existing and emerging critical minerals projects.?

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• The Queensland Renewable Energy Zones (QREZ):? Over $145 mn has been injected to support investigations in three areas identified as having potential for renewable energy development: the Northern, Central and Southern QREZ. The Government aims to unlocks areas of high investor interest, streamline the development of new projects, and supports cost-effective, grid-connected renewable energy that benefits local communities and industries. ? ? The Northern QREZ spans from Far North Queensland to Mackay and west to Barcaldine, and is particularly useful for wind and solar energy, with complementary wind generation at night. The Central QREZ, located in a region with significant traditional generation assets and large energy consumers, is beneficial for solar, wind, bioenergy, and hydrogen production, including a major green hydrogen project. The Southern QREZ, situated near the cross-border interconnector with New South Wales and encompassing diverse industries, is primarily focused on solar energy but also has substantial wind resources, hosting the state's largest operating wind farm.? ?
• Borumba and Pioneer Burdekin Dam Pumped Hydro:? The Borumba Project is located near Gympie in Southeast Queensland, while the Pioneer Burdekin Project is situated within the Burdekin catchment area in North Queensland. Both projects are crucial for Queensland's energy transition, as they provide essential energy storage solutions that enable the integration of more renewable energy sources like solar and wind into the grid. By offering reliable and flexible storage, these projects help balance supply and demand, enhance grid stability, and reduce reliance on fossil fuels, thereby playing a vital role in the state's shift towards a sustainable energy future. The Borumba project, with a proposed capacity of up to 2,000 MW, and the Pioneer Burdekin project, with up to 1,500 MW, are expected to begin construction in the mid-2020s, following ongoing feasibility studies and planning.? ?
• Solar 150:? The Queensland Government’s Solar 150 initiative supports four projects that supply nearly 150 megawatts of solar power generation in Queensland, jump-starting large-scale solar generation and investment in the state. The projects benefiting from this initiative include Canadian Solar’s Longreach and Oakey solar farms, Edify Energy’s Whitsunday Solar Farm, and Genex’s Kidston Solar Farm.?

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• Wind Projects: ? The MacIntyre Wind Farm, located 200 km south-west of Brisbane, will be part of the largest onshore wind precinct in the southern hemisphere, generating 1,026 MW and creating substantial local employment. Clarke Creek Wind Farm, 150 km north-west of Rockhampton, will produce 346.5 MW and significantly boost local employment and the economy. Wambo Wind Farm in the Southern Renewable Energy Zone near Jandowae, developed in partnership with Cubico Sustainable Investments, will generate 252 MW and power approximately 170,500 homes. Tarong West Wind Farm, 30 km south-west of Kingaroy, will generate up to 500 MW, enough to power 230,000 homes, and offer numerous regional benefits. Lastly, Mount Hopeful Wind Farm, 50 km south of Rockhampton, will produce 330 MW, supporting Stanwell's diversification strategy and the Queensland Energy and Jobs Plan, while also creating significant local employment and training opportunities.? ?

Ultimately, if we wrote about every renewable initiative and the opportunities for industry, you’d be reading for days. However, IAQ’s next Major Industry Breakfast will take place on 18 June and will focus on energy, resources and critical minerals in Queensland. The calibre of guest speakers and the pertinence of the subject matter on offer designates this as an event you really should not miss. Speakers and panellists include:?

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• Michele Bauer, Deputy Director-General at the Department of State Development and Infrastructure?
• Shaun Ferries, Deputy Director-General of Georesources at the Department of Resources?
• Kate Muller, Partner at Norton Rose Fullbright who specialises in energy projects throughout Australia and Asia-Pacific?
• Rebecca Hoare, Partner at Norton Rose Fullbright and award-winning lawyer recognised for her expertise in environmental law, particularly climate change and land use?
• Ren Niemann, Partner at Norton Rose Fullbright who brings extensive experience in infrastructure, procurement and major projects in the energy, transport and communications sector?

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With limited places available, register your attendance here. We look forward to seeing you at the Brisbane Convention and Exhibition Centre on 18 June!?

Reference List

https://www.energyandclimate.qld.gov.au/energy/benefits-of-renewable-energy/why-renewable-energy

https://www.energyandclimate.qld.gov.au/about/initiatives/renewable-energy-targets

https://qldhydro.com.au/

https://www.acciona.com.au/?_adin=11734293023

https://www.stateoftheenvironment.des.qld.gov.au/pollution/management-responses/policy-and-programs/solar-150

https://www.energyandclimate.qld.gov.au/energy/renewable-energy-zones

https://whatswatt.com.au/what-are-queensland-renewable-energy-zones/

https://www.powerlink.com.au/queensland-renewable-energy-zones

https://www.resources.qld.gov.au/mining-exploration/initiatives/critical-minerals-strategy

https://www.business.qld.gov.au/industries/invest/critical-minerals

https://www.business.qld.gov.au/industries/invest/critical-minerals/support