en.Wedoany.com Reported - Queensland Investment Corporation (QIC) has officially launched the application process for the AUD 200 million (approximately USD 143 million) "North West Energy Fund" established by the Queensland Government, inviting energy developers, generators, electricity distributors, industrial customers, and local governments to bid for investment in power generation and energy storage projects in the North West Minerals Province (NWMP) of Australia.
The fund will consider a range of options, including new energy generation facilities, gas-fired power plants, battery energy storage systems, and broader support for the North West Power System. In addition to advancing localized energy solutions, Queensland will also clarify operational and infrastructure requirements to coordinate and de-risk future investments in the region, while providing a basis for decision-making on the planning of the CopperString transmission project connecting Hughenden and Mount Isa.
Prior to this call for project proposals, QIC completed market research in collaboration with over 20 organizations, including developers, suppliers, and local governments in and around Mount Isa, Cloncurry, Julia Creek, and Richmond. QIC has issued an investment guide for potential partners, outlining two key criteria: projects must achieve revenue or commence commercial operations by 2030, and must be capable of reducing the cost of electricity delivery in the North West Minerals Province and surrounding areas.
Ross Israel, QIC's Global Head of Infrastructure, stated that the market research provided critical information, helping QIC accelerate the alignment of private capital with priority projects. Queensland Treasurer and Minister for Energy David Janetzki noted that the feedback received during the market research was strong, and a new renewable energy generation project to serve the Dugald River mine is already under consideration.
The establishment of the North West Energy Fund follows cost overruns in the CopperString transmission project. This 1,100-kilometer high-voltage transmission line from Townsville to Mount Isa, designed to connect the North West Minerals Province to the National Electricity Market (NEM) for the first time, saw its total cost estimate surge from an initial AUD 1.8 billion to over AUD 13.6 billion. The Queensland Government subsequently scaled back the project, restoring the eastern line's transmission capacity from 500kV to the original 330kV, and established the AUD 200 million North West Energy Fund to support localized solutions in the Mount Isa, Cloncurry, Julia Creek, and Richmond areas, while the western line remains under evaluation. The eastern line from Townsville to Hughenden is scheduled for completion by 2032, and preliminary work has begun on the AUD 225 million Flinders substation.
Janetzki stated that the North West Minerals Province is one of the world's most resource-rich regions, with potential critical minerals valued at up to AUD 700 billion. The region currently relies on isolated diesel generators and gas-fired power plants, with mining operators generally citing energy costs as the primary constraint on expanding production and developing new projects. The fund's establishment comes as battery energy storage systems in Queensland are reshaping power system operations. According to industry media reports, on May 31, battery energy storage systems deployed in Queensland helped achieve a new record of 79.5% for the share of electricity from "renewable energy + storage" projects, with battery storage accounting for 16.9% of electricity consumption—nearly three times the 6.4% recorded a year earlier. The expansion of the state's battery storage capacity is occurring against the backdrop of Australia's rapidly growing market. According to the Clean Energy Council's "2026 Australian Clean Energy Report," Australia has become the world's third-largest utility-scale energy storage market, with 4.3 GW of large-scale battery storage projects reaching financial close in 2025.
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