Brisbane, 28 July 2025 – QPM Energy Limited (ASX:QPM) is pleased to announce that the Northern Australia Infrastructure Facility (NAIF) has granted approval for the Isaac Power Station (IPS) to proceed to the Due Diligence phase for potential debt financing.
The IPS is a 112MW fast-start gas-fired generation project located in central Queensland and forms the first stage of QPM Energy’s broader Isaac Energy Hub. The project is designed to provide dispatchable generation capacity to support Australia’s transition to renewable energy while maintaining grid reliability and system stability.
Following completion of NAIF’s Strategic Assessment Phase, the Board has approved the IPS to move forward for detailed assessment. This development aligns closely with the Federal Government’s Future Gas Strategy and Queensland’s five-year energy roadmap, both of which recognise the essential role of gas in the transition to net zero.
QPM Energy is already in advanced discussions with additional financiers and anticipates finalising a full funding package (debt and equity) to reach a Final Investment Decision in Q4 2025.
The Isaac Power Station is a proposed 112MW gas-fired peaking plant in central Queensland that will deliver fast-start, dispatchable power to firm intermittent renewables and address grid stability concerns, particularly as Queensland retires aging coal assets. As one of the few new gas generation projects in eastern Australia slated for operation by 2027, it is a key infrastructure development that directly aligns with both federal and state energy policies.
To complement this announcement, QPM Energy has also secured two GE Vernova LM6000 aeroderivative turbines under a fixed-price contract, providing a delivery edge amid global supply constraints. Read more here https://wcsecure.weblink.com.au/pdf/QPM/02961726.pdf
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Jane Morgan
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