The Palaszczuk Government has been briefed by the owner and proponent of the Whitsunday solar farm, Edify Energy, and its development partner Solar Choice, on its investment in regional Queensland.
Meeting in the Whitsunday region for Community Cabinet, Minister for Energy Mark Bailey said the Whitsunday solar farm was another example of industry confidence in Queensland’s renewable energy future.
“The Whitsunday Solar farm is a joint initiative of Australian renewable energy company Edify Energy and its German investor, Wirsol,” Mr Bailey said.
“Upon completion, this renewable energy generator will provide 58 megawatts of renewable capacity to the Whitsundays region and will provide 200 jobs during construction.”
Minister Bailey said the project was a successful recipient of ARENA funding and support under the Palaszczuk Government’s Solar 150 program, which provides a 20 year revenue guarantee.
“The Whitsundays Solar Farm is part of the new, large scale renewable industry the Palaszczuk Government has established in Queensland which will boost investment in the State by more than $600 million, creating around 600 direct jobs and hundreds more indirect jobs in regional Queensland,” Mr Bailey said.
Edify Chief Executive John Cole said the combination a disciplined approach to development, federal government funding and state revenue guarantee made the project an attractive investment.
“We were able to attract the capital to this project due to the currently stable renewable energy investment climate Queensland is seeing,” Mr Cole said.
“The Whitsunday solar farm project has been a key focal point for both Edify and Solar Choice over recent months and indeed years.
“Securing the ARENA grant funding is a milestone for this project and will help provide the catalyst in the ultimate buildout of a very large solar project with our partners Wirsol. We welcome ARENA’s and the Queensland Government’s involvement in kick starting utility scale solar in Australia.
“We are excited to be at the forefront of the large scale Australian solar PV sector and producing a significant volume of renewable energy. This is just the beginning for Edify.
Minister Assisting the Premier on North Queensland Coralee O’Rourke said Queensland has some of the best solar resources in the world and it is vital for our economy and the environment that we harness their potential.
“Queensland-based projects that receive ARENA funding, became eligible for State Government funding and out of the six ARENA projects, four have won Palaszczuk Government support under the Solar 150 program,” Ms O’Rourke said.
“The Solar 150 companies, including the Whitsunday Solar Farm, are leading the charge in Queensland’s renewable energy transition will receive a 20 year revenue guarantee from the Queensland Government which will help reduce financing risk and improve commercial viability.”
“Solar farms will be built right across regional and rural Queensland, including in the Whitsundays, Georgetown in North Queensland, Oakey and Longreach regions and these projects position Queensland as a leader for renewable energy investment.
“The Palaszczuk Government is committed to growing the state’s uptake of renewable energy, and projects such as the Whitsunday Solar Farm are another step towards Queensland achieving its 50 percent renewable energy target by 2030.”
Mr Bailey said the recently released ‘Credible Pathways to a 50 per cent Renewable Energy Target for Queensland – Draft Report’ by an independent Renewable Energy Expert Panel was a ground breaking development as part of the Palaszczuk Government’s commitment to a renewable energy future.
“This is the result of comprehensive public consultation by an independent team of business, energy, and environmental experts,” Mr Bailey said.
“The draft report projects a 50 per cent target would have a cost neutral impact on Queensland’s electricity consumers while delivering $6.7 billion in investment and over 6,000 jobs per year, mainly in regional Queensland.
“Queensland has an abundance of renewable energy sources which are ripe for investment, and this $120 million project forms part of the multi-billion investment in a renewable energy economy which is anticipated by the independent expert panel.
“I congratulate Edify and Wirsol on their investment in Queensland. This kind of investor belief shows that Queensland has the right platform for renewable energy investment,” Mr Bailey said.
Further information about Queensland’s support for large-scale solar is available at https://www.business.qld.gov.au/industry/energy/renewable-energy/solar-120