New renewable energy generator in place for 2019

Queensland’s new renewable energy electricity generator is officially in place, with the creation of CleanCo as a government-owned corporation.

Deputy Premier and Treasurer Jackie Trad said CleanCo was created officially as of midnight Sunday and had a new board and chair.

International management consultant Jacqui Walters will be the inaugural chair, with chartered accountant and former CS Energy director Tracy Dare and former Australian Renewable Energy Agency chief Ivor Frischknecht as directors.

“CleanCo will be a game changer with a strategic portfolio of low and no-emission power generation assets,” Ms Trad said.

“The Palaszczuk Government has appointed board members with a wealth of experience in the dynamic energy sector and strong change and business leadership skills to ensure a smooth establishment.”

Energy Minster Dr Anthony Lynham said CleanCo would contribute to the Palaszczuk Government’s Affordable Energy Plan and ongoing downward pressure on electricity prices, as well as growing investment and jobs in the renewable sector.

“This is another example of how ongoing public ownership of our energy assets allows Government to deliver lower electricity prices, reliable supply and a smooth transition to a renewable future.”

The Government has also committed $250 million to CleanCo to invest in building, owning and operating new renewable generation capacity.

The board members have been appointed for a three-year term with CleanCo expected to be trading in financial and energy markets by mid-2019.

Ms Trad also announced a number of appointments to other key government entities.

“Professor Flavio Menezes has been appointed as Queensland Competition Authority (QCA) Chairperson while Ms Madeline Brennan QC had been appointed as Deputy Chairperson, both for terms of three years commencing from 1 January 2019,” Ms Trad said.

“Both appointees have been members of the QCA Board since 2016, with Professor Menezes having been Chairperson and Ms Brennan the Deputy Chairperson since 5 June 2018.

“Ms Fiona Guthrie AM has been appointed as a new QCA Board member for a three year term commencing on 1 January 2019.

“Bronwyn Fredericks has also been appointed as a Commissioner for the Queensland Productivity Commission (QPC) for 10 months commencing on 1 January 2019 and will assist the QPC Principal Commissioner, Mr Kim Wood, in the oversight of the Imprisonment and Recidivism Inquiry.

“Mr Tim Rothwell has been appointed as a member of the Cross River Rail Delivery Board for a three-year term commencing from 1 January 2019.”

Biographies

Jacqui Walters is a partner at Era Innovation and has more than 20 years experience in new growth opportunities, corporate strategy, acquisition, organisational transformation and restructuring, post-merger culture alignment, change leadership and engagement. She has held key strategic board and executive positions in government, including the Board of Building Queensland, and Chair of the Citytrain Response Uni, as well as the private sector.

Ivor Frishknecht is a non-executive director at Victoria’s C4Net Centre for New Energy Technologies and was previously a member of the Clean Energy Innovation Fund Investment Committee and Australasian Cleantech Advisory Board. He brings extensive director and executive experience in renewable energy and investment, including serving as the CEO of the Australian Renewable Energy Agency from 2012 to 2018.

Tracy Dare is an executive with Uniting Care Queensland and has served on various government, not-for-profit boards and industry bodies for more than 18 years. This includes five years  as a director on the CS Energy board from 2008 to 2013.

Professor Flavio Menezes is a leading economist, currently a Professor of Economics at the University of Queensland, and is widely published in the area of competition and economic regulation.

Madeline Brennan QC has extensive legal and commercial experience specialising in the areas of taxation and revenue law, administrative law, and competition and consumer law.

Fiona Guthrie AM is a leader in the field of consumer affairs and policy, currently Chief Executive of Financial Counselling Australia, and has a range of previous Board and Committee memberships including Energex Retail.

Professor Bronwyn Fredericks previously served as a QPC Commissioner between October 2016 and March 2018.  She is currently Pro-Vice-Chancellor (Indigenous Engagement) of the University of Queensland.

Tim Rothwell has extensive financial management experience.  He was formerly Chief Financial Officer of Brisbane Airport Corporation and is currently a member of the Board of Airservices Australia.

ENDS

Media inquiries:

Deputy Premier: Clare Manton 0432 446 268

Dr Lynham: Jan Martin 0439 341 314