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Queensland Hydro

In June 2025, the Queensland Government transferred oversight of Queensland Hydro to Queensland Investment Corporation (QIC). QIC has extensive experience managing infrastructure assets and is well placed to provide oversight of Queensland Hydro and the Borumba Pumped Hydro Project.  

As a multi-decade and intergenerational asset, the Borumba Project can provide long-duration energy storage that can support Queensland’s energy transition.

Our current focus is delivering a refreshed business case and commercial assessment for the proposed Borumba Project that is aligned to the Queensland Government’s five-year energy roadmap strategy and meets the State’s future energy needs. The refreshed business case is expected to be completed in 2026. For Queensland Hydro, this scope means a long-duration pumped hydro system.

Queensland Hydro was established by the Queensland Government in September 2022 to develop two long-duration pumped hydro energy storage systems known as the Borumba Pumped Hydro Project and the Pioneer-Burdekin Pumped Hydro Project. In November 2024, the Queensland Government decided to cease the proposed Pioneer-Burdekin project.

In October 2025, the Queensland Government announced the State would leverage QIC’s market connections and infrastructure expertise to accelerate delivery of new energy transmission, generation and storage projects in Queensland. QIC will lead a new investor gateway designed to attract and coordinate private capital investment in Queensland’s energy sector in partnership with Government Owned Corporations (GOCs). To find out more about QIC’s role and Queensland’s Energy Roadmap, visit QIC’s website at https://www.qic.com/QLD-Energy.