QEM shortlists 3 bidders to develop 1 GW renewables at vanadium site

Australian critical minerals explorer and developer QEM Ltd (ASX:QEM) on Monday said it has shortlisted three indicative bids to develop, own, and operate a hybrid wind and solar project of up to 1 GW adjacent to its flagship Julia Creek vanadium project in Queensland.

The parties shortlisted to start commercial negotiations about the potential development of the renewables project are Acciona Energia, Enel Green Power and a joint bid by Origin Energy and Energy Estate.

QEM said it received a number of non-binding offers, showing strong interest from global developers. Commercial negotiations with the shortlisted bidders will start in July.

“The highly encouraging monitoring results over the past year and the calibre of non-binding indicative offers, when combined with the Government’s commitment to CopperString 2032, large scale renewable energy development and critical minerals, is certainly pleasing,” said QEM managing director Gavin Loyden.

CopperString will connect wind and solar resources with critical minerals mining and processing in the North West Minerals Province.

The news comes after Queensland Premier Annastacia Palaszczuk unveiled the Queensland Critical Mineral Strategy and a AUD 245 million (USD 163m/EUR 150m) investment into Queensland’s critical mineral sector at the World Mining Congress in Brisbane.

(AUD 1 = USD 0.665/EUR 0.610)

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