The governments of Papua New Guinea and Queensland plan to sign a memorandum of cooperation with PNG Energy Developments Ltd. and Origin Energy Limited to support the potential development of a renewable hydroelectricity project, Origin Energy reported.
The 1,800-MW hydropower project would create thousands of jobs and provide low carbon baseload electricity to PNG, north and far north Queensland and Australia's National Electricity Market, Origin reported.
PNG EDL, a 50:50 joint venture between Origin and PNG Sustainable Development Program Ltd, is evaluating the hydroelectric potential of the Purari Hydro Resource at Wabo in the Gulf Province of PNG. The project would capture the power of the existing river flows.
In other news, the Australian government recently announced it will commit a further $652.5 million over four years to establish a Renewable Energy Future Fund to support Australia's response to climate change.
The fund will provide additional support for the development and deployment of large and small scale renewable energy projects, including wave energy hydropower, solar and other renewable energy developments. The government aims to enhance industrial, commercial and residential energy efficiency to help Australia's businesses and households reduce their energy consumption.
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