Stanwell Corporation and global renewable energy leader RWE have signed a Memorandum of Understanding (MOU) to develop two new wind farms in Queensland, paving the way for future renewable energy projects, investment, and innovation.
The MOU identifies Theodore Wind Farm, a prospective new 1,100 MW project near Biloela, and a second wind farm of up to 720 MW under early-stage development in Southern Queensland, with the collaboration allowing discussions on public ownership and equity, as well as offtake models.
“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 CEO Michael O’Rourke said.
He stated that the agreement benefits the energy industry, Queensland, and commercial and industrial customers, enhancing the State’s ability to meet its targets and generate investment and jobs.
Should it proceed, the Queensland Government said the Theodore project will leverage the robust state-owned network infrastructure in the Biloela region, a crucial part of Queensland’s major Renewable Energy Zones.
By supporting Stanwell’s ambition to construct a renewables portfolio of 9 to 10 GW of generation and 3 to 3.5 GW of storage by 2035, the potential developments will aid in delivering the State Government’s renewable energy target of 80% by 2035.
“The Palaszczuk Government’s Queensland Energy and Jobs Plan is creating quality skilled work for Queenslanders while encouraging private investment through the Government’s clear intent to reach 80 per cent renewable energy by 2035,” Treasurer and Minister for Trade and Investment Cameron Dick said.
“RWE has been in the energy sector for more than 125 years and this partnership with publicly-owned generation company Stanwell opens the door for Queensland to leverage RWE’s international expertise and investment for the first time,” he added.
The Theodore Wind Farm project is estimated to provide enough electricity to power about 410,000 homes while also creating up to 500 jobs during peak development and up to 50 ongoing jobs over the project’s 35-year lifespan.
The proposed new wind farms are scheduled to be finished by 2029.
“RWE is excited to be partnering with Stanwell on these two major projects and assisting Queensland to achieve their renewable energy ambitions. 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,” RWE AG CEO Dr Markus Krebber said.
According to the state Government, partnerships between public and private corporations are crucial for retaining and growing industry in Queensland, as large energy consumers like Arnott’s Biscuits and Anglo American adopt renewable energy to meet decarbonisation targets.
“The world realises Queensland has a natural advantage in renewable energy and manufacturing, combined with the world-class workforce that makes us ideal for renewable investment right now,” Acting Premier Steven Miles said.
Minister for Energy, Renewables and Hydrogen Mick de Brenni commented, “The Palaszczuk Government is committed to ensuring Queensland’s energy assets remain in the hands of Queenslanders, with this partnership further strengthening Stanwell’s capability to continue to deliver cleaner, cheaper and more secure energy.”
Minister de Brenni claimed that the Queensland Energy and Jobs Plan and government-owned corporations attract global investment and expertise, making the State a manufacturing and export powerhouse.
