Representatives from Power China Resources (PCR) visited Brisbane recently to explore opportunities in the state’s growing renewables and low-emissions sector.
The PCR executives were in town to speak with key government stakeholders and local industry representatives at meetings organised by TIQ’s Mining and Resources team in conjunction with Austrade.
PCR is the overseas investment platform of the Power China group, and provides integrated services – including investment, planning, design, construction, and operation and maintenance – for hydro, wind, and solar power projects, and for clean-coal and gas-fired power stations and infrastructure.
PCR estimates that by September 2019 it will have a financial interest in 3304.5MW of power capacity either operating or under construction worldwide.
In Queensland, PCR management is seeking to identify shovel-ready solar and wind projects 50–200MW in size, with development approval and ideally a connection agreement, and is looking to work with developers who would like a majority-share investment partner with global expertise.
As part of PCR’s Queensland program, TIQ introduced the company to 2 local renewable energy projects not previously on its radar.
Queensland currently has more than 20 large-scale renewables projects either financially committed or under construction, including Coopers Gap Wind Farm on the Darling Downs, which will be one of Australia’s largest wind farms.
The Queensland Government is also supporting clean-energy accelerator EnergyLab, which has established a Brisbane base to mentor clean-energy start-ups.
Renewables are identified as one of Queensland’s emerging strengths in the Queensland Trade and Investment Strategy 2017–2022, and are increasingly attracting the involvement of overseas investors.