Grants and funding, Manufacturing News, Queensland, Renewable Energy, Sustainability

QLD budget delivers funding for renewable energy transition

Upcoming state budget to include $26 billion towards the Queensland Energy and Jobs Plan over the next four years.

Premier Steven Miles announced the investment which is set to supercharge renewable energy, storage, and transmission is the largest investment in the nation.
“One thing I’m particularly passionate about is our state’s transition to renewables and the economic opportunity that transition can bring.
“It means more jobs for Queensland, more investment in Queensland and more industry innovation right here in Queensland,” said Miles.
It is the largest-ever investment in renewable energy assets in the nation ahead of the Queensland State Budget.
The upcoming budget will include a record $26 billion invested in the renewable energy and jobs plan over the next four years, a boost from the $19 billion in last years budget.
This includes:
  • $16.5 billion towards renewable energy and storage projects
  • $8.5 billion to build the SuperGrid, including Copperstring and renewable energy zones
  • $500 million for network batteries and support of local grid solutions
  • $192 million for the Transmission and Training Hubs in Townsville and Gladstone.
  • $8.686 billion in capital investment will be delivered in the 2024-25 financial year alone.
Minister for Energy and Clean Economy Jobs, Mick de Brenni said the budget ensures QLD will have the most desirable products because they would be made from clean energy.
“We’ll grow our exports, resulting in more jobs and more prosperity.
“Queensland has much to protect in traditional industries, and we can if we decarbonise. We can protect jobs in industries like smelting, beef, and cotton, and we can create new industries that serve a decarbonising global economy – things like critical minerals, hydrogen, and sustainable aviation fuel.
“Queensland kids are the first generation who can inherit a planet and an economy that is getting cleaner and fairer – it just takes action and genuine commitment that only the Miles Labor Government is delivering,” said de Brenni.
Queensland’s renewable energy transition will support the state in achieving the landmark 75 per cent by 2035 emissions reduction target and 80 per cent renewable energy by 2035 target.
The Miles Government’s commitment to the energy transition is set to ensure that Queensland households have access to cheaper, cleaner power every time they turn on the lights.
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