TRUenergy set to power growth
14 November 2011
Chinese-owned energy provider, TRUenergy, is set to boost its investment in Australia with two new gas-fired power stations proposed for Queensland’s major growth areas.
The company’s development proposal includes an initial investment of A$400 million for two 500MW power stations in Ipswich and Gladstone. Depending on the state’s energy demands, the new stations could each generate up to 1500MW of power representing a A$1.8 billion investment per station.
If approved, construction on the Ipswich and Algoda Power Stations could begin as early as 2013 and TRUenergy’s Managing Director, Richard McIndoe, expects the stations to meet Queensland’s growing energy needs over the next decade.
“The Australian Electricity Market Operator has forecast that the state will have a shortfall in energy reserves of between 341MW-779MW by 2013-2014. Additional investment in new power stations will be needed in order to meet the growing needs of households, business and industry,” McIndoe said.
“Our decision has been encouraged by the State Government’s energy supply strategy, released in November last year and which reinforced the importance of private investment in energy supply.”
Queensland Premier, Anna Bligh has welcomed the company’s development application.
“This investment, worth up to A$3.6 billion, will mean around 1,000 jobs in construction from early 2013 for each project and will increase the State’s overall electricity generation capacity by 20 per cent,” Ms Bligh said.
“It is also the first major investment in energy since the carbon price was passed and that shows that gas can compete in a carbon-priced economy.”
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