Isaac Power Project
NAIF is providing up to $72 million to support QPM Energy’s Isaac Power Project in Moranbah, central Queensland. The new gas to power project is designed to deliver flexible, reliable electricity and support Queensland’s transition to net zero.
January 2026
Energy
Moranbah, Queensland
The Northern Australia Infrastructure Facility (NAIF) is supporting QPM Energy with up to $72 million to develop the Isaac Power Project in Moranbah, central Queensland.
The project will deliver new gas‑fired generation capacity to support Queensland’s transition to net zero while providing reliable, fast‑start power to the National Electricity Market, enhancing grid stability and reliability.
The investment will help unlock regional economic activity, reduce emissions from gas venting and flaring, and strengthen energy security in central and northern Queensland.
About QPM Energy
QPM Energy Ltd (ASX: QPM) is an Australian, vertically-integrated energy company specialising in gas production and flexible electricity generation to support Queensland’s transition to net zero.
Project Overview
The Isaac Power Project is a 112MW gas‑to‑power generation facility designed to provide essential, long-term duration firming capacity to help enhance grid stability and reliability.
The project features two 55.8MW LM6000 aeroderivative gas turbines, a water treatment plant, and auxiliary infrastructure including a new overhead electricity line to the National Electricity Market.
The power station is expected to be commissioned around 2027 and is supported by QPM Energy’s existing gas reserves. By capturing gas that would otherwise be vented or flared, the project will reduce emissions while supplying fast‑response generation offering flexible, dispatchable power to support Queensland’s electricity network.
Public Benefit
Independent analysis estimates that the Isaac Power Project will generate around $702 million in public benefit across the Isaac and Mackay region during its construction phase and throughout its 30-year operational lifespan.
This includes the displacement of emissions from coal-fired electricity generation and reduced emissions from venting and flaring, providing net environmental benefits, valued at $451m. The project is expected to support regional industry and supply chains, contributing an estimated $251 million increase in gross regional product for the local economy.
The project is forecast to support 125 jobs, including 84 during construction and 41 ongoing operational roles. QPM is committed to prioritising employment opportunities within the Isaac and Mackay Local Government Areas.
QPM has pledged $500,000 over the first five years of operations to support local initiatives in Isaac, working collaboratively with the local council to allocate these resources.
The initiative will create employment opportunities and strengthen supply chains, supporting the shift from coal-fired generation and helping Queensland transition to renewable energy. The Isaac Regional Council has endorsed the project, recognising its potential to enhance economic prosperity for communities in the region.
How We Helped
The Isaac Power Project demonstrates a strong strategic fit with our mandate to support nationally significant infrastructure that delivers economic growth in regional Australia, particularly where projects face barriers to traditional commercial finance.
NAIF structured a concessional financing solution designed to support the delivery of the project alongside private sector investment. This included a longer loan tenor aligned with the project’s operating life, affordable pricing, and a repayment profile tailored to expected cash flows and market conditions.
We are delighted to receive this financial support from the Northern Australia Infrastructure Facility. The terms of the NAIF financing underpin the overall Project Finance Facility and enhance the economics of the Isaac Power Station. The Australian Government has recognised the need for additional gas fired generation to support the energy transition and the NAIF approval is strong validation for the Isaac Power Station."
David Wrench, CEO at QPM Energy Ltd
Related Links
Indigenous Engagement
- The Barada Barna People
The Barada Barna people are the Traditional Owners of the land on which the Isaac Power Project is located, as well as surrounding areas in the Bowen Basin. Barada Barna Country features significant cultural and ecological areas, including rock art and diverse ecosystems typical of Central Queensland’s inland environments, such as various woodlands and grasslands. The Barada Barna people received their Native Title determination over their traditional lands, which stretch from the Connors Range in the east, to Middlemount in the south, the Peak Ranges in the west, and Lake Elphinstone in the north. The Barada Barna Aboriginal Corporation (BBAC) represents the Barada Barna people’s Native Title interests and works to protect country, traditions, lore, language, and culture, while also delivering economic, social, and cultural benefits to the community.
Indigenous Engagement Strategy Commitments
QPM Energy has committed to Indigenous participation through a comprehensive Indigenous Engagement Strategy, which includes:
- A ‘Local First, Traditional Owner Preferred’ procurement model.
- A 6.2% First Nations procurement target.
- Technical training pathways for Traditional Owners and local First Nations people.
- Preferred procurement pathways for First Nations businesses.
- Caring for Country initiatives, including native seed collection, land management and regeneration activities led by Barada Barna Traditional Owners.
