The Queensland government’s latest reverse auction has received 115 proposals from 79 companies seeking to invest in the state’s renewables and energy storage sectors.
The auction, which called for expressions of interest in 400MW of large-scale renewable energy capacity and 100MW of energy storage, was closed on September 25, as part of the state government’s A$1.16 billion ($914 billion; €774 million) energy strategy – the Powering Queensland Plan.
The proposals delivered interest in a combined capacity of more than 9GW, which comprises 2.2GW of wind, more than 6.4GW of solar and around 500MW of other forms of renewable energy such as biomass. Proposals have also been received for energy storage projects with 6GW of capacity.
Mark Bailey, Queensland’s minister for energy, said: “This is greater than the current 8.2GW generated by coal-fired power stations and is further proof that Queensland does not need a new coal-fired power station being trumpeted by the Liberal National Party,” adding that the proposed capacity can easily supply power for all households in the state.
Bailey also noted that there are proposals for standalone storage projects, as well as those integrated with renewable energy projects. “The integration of storage with renewables is the future and particularly important to enable renewable energy to be dispatched in the market when it is required,” he said.
“We’ve received a strong interest from local and overseas companies and it’s clear that investors are excited about the renewable energy boom happening in Queensland and what we have to offer,” Bailey added.
Shortlisted projects will be invited to participate in the next stage of the auction process, which will start next month.
Queensland is committed to deriving 50 percent of its energy from renewable sources by 2030. Since 2015, the state has developed a project pipeline of 21 large-scale renewable energy projects worth more than A$3.4 billion.