Queensland’s new renewable energy electricity generator starts up

Queensland’s new renewable energy electricity generator has been launched, with the creation of CleanCo as a government-owned corporation.

Deputy premier and treasurer, Jackie Trad, said CleanCo was created officially as of November 16 with a new board and chair.

International management consultant Jacqui Walters will be the inaugural chair, with chartered accountant and former CS Energy director Tracy Dare and former Australian Renewable Energy Agency chief Ivor Frischknecht as directors.

Trad said CleanCo will be a game changer with a strategic portfolio of low and no-emission power generation assets.

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The Queensland government has appointed board members with a wealth of experience in the dynamic energy sector and strong change and business leadership skills to ensure a smooth establishment, she said.

Energy minster Anthony Lynham said CleanCo would contribute to the government’s Affordable Energy Plan and ongoing downward pressure on electricity prices, as well as growing investment and jobs in the renewable sector.

“This is another example of how ongoing public ownership of our energy assets allows government to deliver lower electricity prices, reliable supply and a smooth transition to a renewable future,” said Lynham.

The government has also committed $250 million to CleanCo to invest in building, owning and operating new renewable generation capacity.

The board members have been appointed for a three-year term with CleanCo expected to be trading in financial and energy markets by mid-2019.