Queensland state-owned coal utility CS Energy has made its first major investment in large-scale wind, in a deal to take a 50 per cent equity stake in the 228MW Boulder Creek wind farm – and to buy all of its energy output.
The deal with the developers of the 60-turbine project, Macquarie’s Green Investment Group, was announced last Wednesday by Queensland premier Annastacia Palaszczuk, during her State of the State address in Brisbane.
“Since launching our Energy and Jobs plan, connection inquiries have more than doubled from 10 gigawatts to 25 gigawatts,” Palaszczuk said.
“Today I can also announce that CS Energy will own 50 per cent of the Boulder Creek wind farm in Central Queensland.”
Boulder Creek, previously owned by Epuron and then Ark Energy, is now being developed by Macquarie’s GIG around 40km southwest of Rockhampton, 5km west of Mount Morgan, and around 100km north of CS Energy’s Callide coal plant.
CS Energy’s 50 per cent stake in the project – the price tag for which remains commercial in confidence – marks the coal company’s first direct investment in wind power, after it was allocated $312 million in the 2023-24 state budget “to invest in Central Queensland wind farms and large-scale batteries.”
CS Energy said on Thursday that it was also considering options for other wind projects following its successful application for state government funding to develop 700MW of wind projects in Central Queensland.
