Image Credit: Pacific Energy
The Queensland state LNP government has announced big changes to the proposed Copperstring 2.0 transmission link in the north of the state, scaling back the first stage of the project and providing funds for renewable-based micro grids to support new mines while the second stage is contemplated.
Treasurer and energy minister David Janetzki, in announcing the new five-year energy roadmap, committed to the initial stage of the CopperString – between Townsville and Mount Isa – to be built by 2032, but the capacity of the line will be scale back from 500 kV to the original 330 kV.
He said this was necessary because the costs of Copperstring had blown out from the original $1.8 billion to more than $13.6 billion, and the smaller capacity line, and the cancellation of some spur lines, will save $2.1 billion on the first stage alone.
Janetzki insisted that the first stage of Copperstring would still be capable of hosting up to $10 billion of new renewable projects.
More intriguingly, Janeztski also announced a $200 million north west energy fund to support “bespoke solutions” to support mining projects at Mount isa, Cloncurry, Julia Creek and Richmond – the potential value which he put at more than half a trillion dollars.
He said QIC estimated that this hybrid-renewable micro-grid model “could achieve material power price” savings in the north-west, including proposed mines such as the Eva Coper project near Cloncurry that could inject a massive $16 billion into state GDP.
He estimated total electricity demand of these mines could reach more than 600 MW by 2040.
Someone should have told Glencore a decade ago before they committed to expensive gas, and effectively scuppered government attempts to look at renewables and storage. Hybrid renewable facilities in isolated mines in Western Australia are achieving renewable penetration rates of 80 per cent and more, and saving money.
“Hughenden will remain the heart of the project, with QIC’s review affirming our decision to commence work on the Eastern Link first to connect to the National Electricity Market sooner,” Janetzki said.
more to follow
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