The Queensland government will take back full ownership of the troubled Callide C coal-fired power station from its Chinese and European backers after a damning report into a disastrous explosion at the plant blamed a failure of management to understand technical risks.

A draft release of an investigation into the catastrophic failure was finally made available on Tuesday morning, more than three years after the explosion at the Central Queensland power station run by state-owned corporation CS Energy and its joint-venture partners.