Massive spending in 2020-21 Queensland Budget for renewables

As part of the 2020-21 state budget, the Queensland Government has announced significant contributions to the state’s road and rail, with a strong focus on renewables.

The budget outlines that over four years, $10 million will be invested in developing Queensland’s hydrogen industry.

“Renewable hydrogen offers the opportunity to create a new high-tech industry delivering enhanced environmental outcomes and highly skilled jobs,” reports Steven Miles, Deputy Premier and State Development, Infrastructure, Local Government and Planning Minister.

Currently, only 20 per cent of Queensland’s energy mix is made up of renewables, with the aim to reach 50 per cent by the year 2030.

Consistent with the target, the government has allocated $500 million to a Renewable Energy Fund to support the development of renewable energy projects. The fund will complement the Government’s $145 million commitment of developing three renewable energy zones in southern, central, and northern Queensland.

“[the transition to renewable energy provides] an affordable, reliable energy supply [that] underpins our economic plan for post-COVID recovery,” states Mick de Brenni, Energy, Renewables and Hydrogen Minister.

As well as investments in renewables, the budget details a $709.9 million investment into the Gold Coast’s light rail infrastructure, $600 million for 20 new Queensland trains and infrastructure, and $40.5 million to support the “Making it in Queensland” strategy that will secure advanced manufacturing jobs and skills needed for existing and future industries. To support the growth of local manufacturers and the jobs they create, two new regional manufacturing hubs will be established on the Gold Coast and Mackay.

The budget also includes substantial ongoing investment in key infrastructure including the M1 Pacific Motorway, Bruce Highway and Captain Cook Highway.

The total spend on road and transport infrastructure for 2020-21 comes to $6.3 billion.

Highlights of the Queensland 2020-21 budget can be viewed here.

Source: EV Talk | Big spend on e-mobility and renewables in Queensland budget

9 December 2020

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