QPM Energy Limited (ASX: QPM) has executed a Connection Project Delivery Agreement (CPDA) with Powerlink Queensland, marking a major milestone in the development of its 112-megawatt Isaac Power Station in central Queensland.
The agreement enables Powerlink to commence construction works at its Moranbah substation, a critical step toward connecting the Isaac Power Station to the Queensland electricity network. Execution of the CPDA is also a key requirement for completion of the project’s finance facility.
Under the CPDA, Powerlink will progress connection works ahead of issuing an Offer to Connect under Chapter 5 of the National Electricity Rules. The agreement incorporates Powerlink’s standard Generator Connection and Access Agreement, which provides for a 30-year connection term, annual connection charges consistent with QPM’s feasibility assumptions, and a work program targeting energisation of the power station by no later than 30 June 2027.
Final execution of the Generator Connection and Access Agreement is expected once technical performance standards are agreed with both Powerlink and the Australian Energy Market Operator (AEMO), and an Offer to Connect is issued in accordance with regulatory requirements.
QPM Chief Executive Officer David Wrench said the agreement represents a significant step forward for the project.
“This agreement is a major milestone for QPM and an important step toward development of the Isaac Power Station. The project will deliver flexible generation capacity and provide valuable network support to the Moranbah region,” Mr Wrench said. “We appreciate Powerlink Queensland’s collaborative and timely approach in finalising the CPDA.”
The Isaac Power Station is being developed to support grid reliability in Queensland’s resources-driven regional network, with a focus on dispatchable generation capacity.
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About QPM Energy Limited
Queensland Pacific Metals is an Australian company listed on the Australian Securities Exchange (ASX:QPM). The head office is in Brisbane, Queensland and the company also has an office in Townsville, North Queensland.
The company is focused on developing the 100% owned Townsville Energy Chemicals Hub (TECH) Project. The TECH Project will be a modern and sustainable, battery metals refinery, 40km south of Townsville, in northern Queensland. The TECH Project will produce critical metals for the rapidly emerging lithium-ion battery and electric vehicle sector.
Queensland Pacific Metals shareholders include global battery manufacturing leader LG Energy Solution, major Korean conglomerate POSCO and American multinational automotive manufacturing company General Motors. Queensland Pacific Metals has secured binding offtake agreements for the sale of nickel and cobalt with LG Energy Solutions, POSCO and General Motors.
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