$2b investment to power growth
The investment will provide cheaper, cleaner energy to power more jobs and more industries in Queensland.
The announcement of the $2 billion ‘Queensland Renewable Energy and Hydrogen Jobs Fund’ was a watershed moment in the economic development of Queensland, said Premier Annastacia Palaszczuk.
“Queensland is positioned better than anywhere in Australia to capitalise on the jobs and industries that will flow from this cheaper, cleaner energy,” Ms Palaszczuk said.
“This $2 billion Queensland Renewable Energy and Hydrogen Jobs Fund is all about more jobs and more industries.
“It will also support the further development of Queensland’s resources sector while at the same time helping to deliver on our 50 per cent renewable energy target by 2030.”
The certainty provided by access to affordable, reliable energy would underpin Queensland’s economic recovery from COVID 19, said Treasurer and Minister for Investment Cameron Dick.
“Queensland has long been the backbone of Australia’s national Electricity Market through our combination of the nation’s youngest and most efficient fleet of coal-fired generators, our willingness to open up more gas reserves for industry and our increasing strength in renewables,” Mr Dick said.
“This investment will ensure we have the energy supply necessary to be home to more heavy industry and more manufacturing, with the secure, skilled long-term jobs they create.”
The fund would drive local manufacturing jobs in the renewables supply chain said Minister for Energy, Renewables and Hydrogen Mick de Brenni.
“By 2050, the world will be looking for more than 500 million tonnes of hydrogen every year, and we want to make sure Queenslanders get decent, secure jobs supplying it,” Mr de Brenni said.
“There is no reason why solar panels, electrolysers, batteries, wind farm components and new technology can’t be manufactured right here in Queensland.
“This fund will create a pipeline of demand for local manufacturing across the entire value chain, and that means more jobs for Queenslanders.”
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