PERTH (miningweekly.com) – The Queensland government will expand its A$500-million Queensland Renewable Energy Fund into a A$2-billion Renewable Energy and Hydrogen Jobs Fund as part of its Covid-19 Economic Recovery Plan.
The A$2-billion investment will provide cheaper, cleaner energy to power more industries and create more jobs in Queensland.
Premier Annastacia Palaszczuk said the announcement of the A$2-billion Queensland Renewable Energy and Hydrogen Jobs Fund was a watershed moment in the economic development of Queensland.
“Queensland is positioned better than anywhere in Australia to capitalise on the jobs and industries that will flow from this cheaper, cleaner energy,” the Premier said.
“This A$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% renewable energy target by 2030.”
Bringing the entire Queensland Jobs Fund to a new total of A$3.34-billion, this investment will make sure Queensland capitalises on economic development opportunities for more jobs and more industries through cheaper, cleaner energy.
This A$2-billion blue-collar jobs investment will support a transformational cycle of Queensland investment by providing cheaper, cleaner energy by investment in local manufacturing of renewables and hydrogen to deliver lower cost energy and freeing up gas as an industrial input for manufacturing.
The investment would also power more industries and create more jobs. Developing projects in Queensland’s hydrogen and renewable industries means cheaper energy, powering more Queensland manufacturing, and will supercharge the resources sector, with an increased demand for cleaner energy expected to drive the expansion of the resources sector, including the North-West Minerals Province, providing the cobalt, copper, scandium, nickel, vanadium, bauxite and alumina needed for batteries, electric vehicles and solar panels.
Deputy Premier Steven Miles said government’s Queensland Jobs Fund was encouraging investment in Queensland and focusing on job-creating industries like renewable energy, hydrogen and manufacturing.
“The Queensland Jobs Fund, which now includes A$2-billion for renewable energy and hydrogen jobs, is the government’s next step toward Queensland’s continued economic recovery,” Miles said.
“It’s not just about helping businesses get back on track, it’s about making sure we leverage the opportunities that we’ve created in Queensland off the back of our world-class pandemic response and recovery.
“Companies from around the world are looking to Queensland to expand and we want to help them. Encouraging investment in job-creating industries like renewable energy and hydrogen is part of Queensland’s economic recovery plan.”
Minister for Energy, Renewables and Hydrogen Mick de Brenni said the Fund would drive local manufacturing jobs in the renewables supply chain.
“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,” 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.”