The Queensland Government has announced it will establish ‘CleanCo’ – a new renewable energy, publicly owned generator.
CleanCo will be Queensland’s third government owned energy generator, along with CS Energy and Stanwell Corporation.
CleanCo will operate existing government-owned renewable and low-emission energy assets and create additional competition in the wholesale energy market.
For CS Energy, this means that Wivenhoe Power Station will be transferred to CleanCo, along with Stanwell’s hydro power stations – Barron Gorge, Kareeya and Koombooloomba, and the gas-fired Swanbank E Power Station.
CS Energy will work with the Queensland Government to look at opportunities for our business in the renewable future to complement the work that will be done by CleanCo. This will include identifying further opportunities for diversification, continuing the journey CS Energy has started with our purpose-led strategy of Delivering energy today, powering your tomorrow.
The Government will establish a working group to manage the transition and CS Energy will play an active role in this process.
CleanCo is expected to be trading in the National Electricity Market by mid-2019.
For more information, visit www.treasury.qld.gov.au/growing-queensland/queenslands-new-cleanco/