Coal Money to Fund 6-Gigawatt Renewable Energy Project Through Copperstring 2

Time Stamp: March 12, 2023 4:57 AM
Source Node: 2512973

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The world is on the cusp of a renewable energy revolution. With the rise of clean energy sources such as solar, wind, and hydroelectric, the need for traditional fossil fuels such as coal is rapidly diminishing. In an effort to keep up with the changing times, a 6-gigawatt renewable energy project is being funded by coal money through Copperstring 2.0.

Copperstring 2.0 is a project that will create a new transmission line from Townsville in Queensland to Mt Isa in the Northern Territory. This transmission line will be able to transport up to 6 gigawatts of renewable energy from the north to the south of Australia. The project is being funded by the sale of coal assets owned by the Queensland government. The sale of these assets is expected to raise $1.2 billion, which will be used to fund the project.

The project is expected to create thousands of jobs in both the construction and operation of the transmission line. It will also provide a boost to the local economy as it will bring more investment and business opportunities to the region. Additionally, it will help reduce Australia’s reliance on fossil fuels and help the country transition to a more sustainable energy future.

The Copperstring 2.0 project is an important step in the right direction for Australia’s energy future. By using coal money to fund a renewable energy project, the country is showing that it is serious about transitioning away from fossil fuels and towards clean energy sources. This project will help create jobs, stimulate economic growth, and reduce emissions, all while helping Australia move towards a more sustainable energy future.