Pioneer-Burdekin Pumped Hydro: $40m for properties among $111m outlay so far
Taxpayers have forked out nearly $40m buying up close to 50 properties for a renewable project that may never go ahead.
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Taxpayers have forked out nearly $40m buying up close to 50 properties for a renewable project that may never go ahead.
The state government has been adamant about keeping the cost of its property-buying spree secret, but records have revealed the acquisitions for Pioneer-Burdekin Pumped Hydro have cost a total of $39.95m.
In return, Queensland Hydro now owns 49 properties in the project area, for a total combined area of 2000ha in private property alone.
It comes after it was revealed $111m had already been spent on the Pioneer-Burdekin Pumped Hydro project, including on property buy-ups, geotechnical studies and front end engineering and design.
Premier Steven Miles has defended the state government’s decision to splash taxpayer cash buying up properties for a renewable energy project that may never go ahead.
The state government is yet to make a final investment decision on the project – which is central to hitting the renewable energy targets it enshrined into law.
On official documents the project is slated to cost $12bn but industry insiders have placed the investment at closer to $18bn.
Mr Miles, speaking in Rockhampton, said the state government had always planned to have a program available for landholders who wanted to sell off their homes to authorities early.
“We said from day one, that if there are landholders who wanted their property acquired early that we would have a program and funding available to do that,” he said.
“We wanted to ensure throughout this process, that we minimise the distress of landholders.”
It has been previously revealed that people in the towns due to be submerged for the project were not consulted and only found out about their homes would be lost on live television.
The most expensive and largest property was $4.4m for a 316ha parcel of land with a three-bedroom home in Dalrymple Heights. The second-most expensive property was a 28.3ha farm the government purchased for $1.8m.
The second-largest property was a 141ha parcel, with no home, which taxpayers paid $1.57m for in September 2023.
A total of 33 properties purchased were located in Netherdale, the town envisioned as the lower reservoir of Pioneer-Burdekin Pumped hydro.
Another 16 properties were located in Dalrymple Heights, where the upper reservoir is set to be located.
Deputy Opposition Leader Jarrod Bleijie blasted the state government for buying up properties on a project with no business case. He likened it to the state government’s “Traveston Dam 2.0” referencing the botched water project to dam near Mary River that was ultimately kiboshed by the federal government over environmental concerns.
“The Labor government have completely botched this project,” Mr Bleijie said.
“This project has never had the Opposition’s support because it’s never had a business case.”
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