Qld seeks $1b in renewable energy funds

Queensland is asking for $1 billion for renewable energy funding from the Federal Government.

Feb 04, 2020, updated Feb 04, 2020
Deputy Premier and Treasurer Jackie Trad (Photo: Glenn Hunt/AAP PHOTOS)

Deputy Premier and Treasurer Jackie Trad (Photo: Glenn Hunt/AAP PHOTOS)

The request comes after New South Wales last week sealed a $2 billion deal to shore up its grid security and back emissions reduction projects there.

Now, Queensland wants money for projects it says would cut the cost of power bills across the state.

State Treasurer Jackie Trad has asked Prime Minister Scott Morrison for a grant from his government’s Northern Australia Infrastructure Fund.

She said last week’s deal caught her attention.

“I note a significant portion of the Federal Government’s funding commitment will be through grants, rather than loan arrangements,” Trad said in a letter to Morrison.

“The Queensland Government is seeking an allocation of funding of $1 billion from the (NAIF), and for it to be provided as a renewable energy grant on the same terms as that provided to the New South Wales,”  Trad wrote.

She said the place for the funding is in Queensland.

“We welcome the opportunity to work with you to reduce emissions, grow jobs, lower energy prices and strengthen grid reliability,” Trad said.

The Queensland Government has a target of 50 per cent renewable energy by 2030.

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