Proponents of CopperString 2.0 are calling the $1 billion plan to bring North West Queensland into the National Electricity Market "Australia's largest industrial de-carbonisation initiative."
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The high-voltage transmission line proposal, declared a coordinated project by Queensland's coordinator-general, wants to connect the North West Minerals Province to the NEM and backers have engaged KPMG Corporate Finance to run the process in collaboration with big local miners Glencore, Incitec Pivot, MMG (Dugald River), New Century Resources amd Chinova Resources.
CopperString founder John O'Brien said the purchase of a large tranche of unsubsidised renewables delivered via the NEM would complement existing energy supply to North and North West Queensland, contribute to corporate de-carbonisation objectives and support substantial investment in electricity transmission infrastructure.
Speaking in Brisbane ahead of a meeting of the Northern Queensland Sustainable Resources Corridor Regional Reference Group at Parliament House Mr O'Brien said the project offered economic opportunity across Northern Queensland to the North West Minerals Province.
"CopperString 2.0 was created to drive sustainable economic growth from North Queensland's minerals and energy resources, and I believe a lot of people underestimate the positive impact this common-user transmission infrastructure will have," Mr O'Brien said.
There is no other electricity-sector investment in Queensland that will have such a dramatic and positive impact on an industry sector that provides huge numbers of jobs and export dollars, and we want government to make it their number one priority."
Mr O'Brien said North Queensland was blessed with a rare and enormously valuable opportunity to drive economic growth from our natural energy resources.
"It's an opportunity made for this time, supported by some of the world's best industrial businesses with clear de-carbonisation and economic benefits," he said.
"We can't shy away from this complexity we need to do the economic work and the engineering work to identify opportunities for industrial prosperity in the sectors where Australia has a competitive advantage and we need to do that in ways that continually reduce emissions without hurting consumers.
Mr O'Brien said the project would combine flexible gas generation in Mount Isa, a large tranche of new renewables procured from the NEM and the existing generation fleet in Queensland including coal power stations to create an ideal electricity supply supporting large industrial investment.
"We are building a transmission line to drive Queensland's economy and prosperity with a dramatically lower emissions intensity that would otherwise be possible," he said.
While you are here subscribe to our weekly email to your inbox at 6am every Friday
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
