CuString ready to ‘pull trigger’ on $1.5 B transmission project
Australia, Sidney: CuString chairman John O’Brien announced on Wednesday the company would be ready to “pull the trigger” on the $1.5 B HV transmission line.
Image source: PV Magazine
Australia, Sidney: CuString chairman John O’Brien announced on Wednesday the company would be ready to “pull the trigger” on the $1.5 B HV transmission line.
The line is set to run between Mt Isa and Townsville in north Queensland in October, pending final government approvals.
The project, which received an $11 M boost from the federal government recently and has secured more than $14.8 M from the state government, is being hailed as the nation’s largest geographical expansion of the National Electricity Market (NEM).
It would integrate Queensland’s isolated northwest power supply into the NEM and pave the way for the development of renewable energy projects, including large-scale wind and solar, in the region while also opening up access to large deposits of minerals seen as key to the energy transition.
“CopperString will extend the national transmission grid through an open access 1,100 km power network which will not only create greater energy security, but also power the growth of new opportunities for mining, industrial and manufacturing enterprises as well as support clean energy projects,” O’Brien said.
Sydney-based Vast Solar is among those who have already identified QLD’s northwest for investment with plans to develop a $600 M hybrid power plant in Mount Isa.
The project will combine solar PV, a large-scale battery and gas engines with a 50 MW solar thermal facility and help the Queensland government build out its Northern Renewable Energy Zone (REZ).
With the CopperString 2.0 project due for completion in 2024, CuString said it is looking to complete negotiations with the Northern Australia Infrastructure Facility (NAIF) on its financing offer for the project and finalise relevant environmental approvals.
O’Brien said the Townsville-based company is also seeking to finalise the remaining items under the Implementation Agreement with the state government which has identified the project as part of its strategy to establish Queensland as a renewable and hydrogen superpower.
Source: PV Magazine
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