The 112MW Isaac Power Station is being weighed up for Northern Australia Infrastructure Facility (NAIF) support.
QPM Energy said it had received written confirmation from that the project had been approved to proceed to NAIF’s due diligence phase for debt financing.
The company plans to build a $196 million gas-fired power station in the Moranbah area within the next two years.
The 112MW plant will be part of its proposed Isaac Energy Hub, which would also include a 100MW BESS, supporting Queensland’s energy transition.
The project will be underpinned by QPM’s 435PJ of 2P gas reserves and will be co-located with its Moranbah Gas Processing and Compression Facility.
QPM Energy has already locked in the supply of two 55.8MW turbines from GE Vernova for the power plant.
‘QPM and its financial adviser, RBC Capital Markets, anticipate finalising an overall funding package
(including both debt and equity) in order to reach a final investment decision on the IPS during the
December quarter 2025,’ it said in an update to the ASX today.
‘It is intended that NAIF will be an important participant in the debt financing as the IPS development meets NAIF’s strategic objectives and is also aligned with Federal Government’s Future Gas Strategy.’