The Queensland Government has announced a new partnership to pave the way for future renewable energy projects across the state.
Publicly-owned energy company Stanwell Corporation has signed a Memorandum of Understanding (MoU) with global renewable energy developer RWE to establish a strategic partnership and support the delivery of Stanwell’s 9 – 10 GW pipeline of renewable energy assets.
The partnership will commence with the development of two new RWE wind farm projects in Central and Southern Queensland by 2029, and pave the way for future renewable energy projects, investment and innovation.
This includes the Theodore Wind Farm, a potential new 1100 MW project near Biloela, and a second wind farm of up to 720 MW in early-stage development in Southern Queensland, with the partnership enabling negotiations on public ownership and equity, as well as offtake models.
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The Theodore Wind Farm is expected to generate enough electricity to power around 410,000 homes and support local industries and employment.
These projects have the potential to support the State Government’s renewable energy target of 80 per cent by 2035. The potential projects are expected to be completed by 2029.
Michael O’Rourke, CEO Stanwell said the two project would help to strengthen the regions renewable energy output.
“We are thrilled to partner with RWE on two such significant projects. An additional 1.8 GW of clean energy by 2029 represents a major boost in our rapidly growing portfolio of renewable energy projects,” Stanwell said.
Dr Markus Krebber, RWE AG CEO said the company is excited to work with Stanwell on the two major projects.
“RWE sees Australia as a very attractive renewable energy growth market and we are looking forward to working on developing the proposed Theodore Wind Farm,” Krebber said.