The Queensland government is securing the future of thousands of jobs in regional Queensland with a supercharged $26 billion investment in renewable energy over the next four years.
This move is expected to unlock an estimated $430 billion boon and create 145,000 jobs by 2050, according to modelling by Deloitte.
The investment aims to help Queensland reach its target of reducing emissions by 75 per cent by 2035, with regional areas set to attract more than 85 per cent of the new jobs.
The funding outlined in the 2024-25 Budget will drive the transformation of Queensland’s energy sector and power more jobs across the Sunshine State.
The investment will allow publicly owned energy businesses to invest in new wind, solar, storage, and transmission infrastructure.
This includes $8.686 billion in capital investment for the 2024-25 financial year alone.
Powerlink will invest $109.4 million to accelerate the state’s SuperGrid, including early works on Central Queensland transmission and connection of the Borumba Pumped Hydro Energy Storage.
An additional $712 million will continue the delivery of CopperString 2032.
Energy Queensland’s capital program for 2024-2025 will see an investment of $2.683 billion, while the state’s three publicly-owned generators will collectively invest around $376 million for upgrades and maintenance at existing power stations.
QLD Premier Steven Miles emphasised the importance of protecting regional jobs and acting on climate change, stating: “The transition to renewables isn’t just about emissions reductions — it’s about creating more jobs in new industries and opening up opportunities for our state to thrive.”
The government has established a $150 million Job Security Guarantee to protect workers in publicly owned power stations.
Additionally, the investment is expected to boost regional economies, with modelling forecasting a $218 billion spike in investment in regional Queensland.
