• QPM to expand energy business with new electricity generation and storage assets
• Stage 1 is the 112MW Isaac Power Station, to be commissioned by mid-2027
• Feasibility study shows $71m annual revenue and $49m operating margin over 30 years

QPM is expanding its energy business through the development of new electricity generation and energy storage assets, including the Isaac Energy Hub (IEH). Stage 1 of the IEH will be the construction of the Isaac Power Station (IPS), a 112MW gas-fired power station with a target commissioning date of mid-2027. A feasibility study for the IPS has been completed, showing average annual revenue of $71m and operating margin of $49m over a 30-year life. The capital cost is estimated at $196m ($215m including contingency). The IPS will feature 2 x 55.8MW GE LM6000 gas turbines, which have been secured under a fixed-price contract to significantly de-risk the project's delivery and schedule. The IPS will be co-located with QPM's existing Moranbah gas processing and compression facility, using 11TJ/day of QPM's 435PJ of 2P gas reserves. QPM has appointed RBC Capital Markets to arrange project development funding. The IPS will increase QPM's portfolio of dispatchable generation to 284MW and provide a platform for further expansion towards a target of 500MW.

QPM's FY2026 guidance includes total gas supply of 10.6-11.3PJ, gas sales of 7.4PJ, and electricity dispatch of 180,000-210,000MWh. Gas field and infrastructure costs are expected to be $7.31-$7.32/GJ.