NSW overtakes Queensland as top clean investment destination

Queensland is no longer the most attractive jurisdiction for clean energy investment, according to a new industry survey by the Clean Energy Investor Group (CEIG), which shows NSW now comes out on top. Investors point to planning and policy uncertainty, and government intervention as key challenges undermining confidence in Queensland.

According to the Queensland Conservation Council, these results show that the State Government’s mixed signals on energy are scaring away potential clean energy investment in regional Queensland.

The results of the survey come as the Crisafulli Government confirms they cut $105 million previously earmarked for the development of the Australian Battery Industrialisation Centre: a planned Queensland hub to accelerate and scale domestic battery manufacturing, which also has federal funding.

Queensland Conservation Council Campaigner Stephanie Gray said

The results of this survey show that the mixed signals that the Crisafulli Government is sending on energy are hurting clean investment confidence, which is ultimately bad news for regional economies, power bills, and our climate.

When the Crisafulli Government was elected they promised to deliver renewable energy to meet Queensland’s 75% by 2035 emissions reduction target.

But instead, so far, they have implemented controversial planning legislation changes that could make it much harder to build new renewable energy projects, and are reviewing scheduled coal power station closure dates and the 75% climate target.

Queenslanders voted for climate action and a better-planned energy transformation that benefits communities and nature.

If the Queensland LNP are serious about achieving the best outcomes for regional communities and nature, they should acknowledge the way the wind is blowing and plan for the transformation of our energy system and economy.

What we’re seeing instead is the Crisafulli Government signalling Queensland is closed for clean business and slashing funding for new industries, like battery manufacturing.

All Queenslanders lose when governments put their head in the sand, make decisions based on ideology over economics, and fail to plan for our future.

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