Iberdrola is continuing its expansion into Australia by acquiring the development rights over the 1GW Mount James wind project in North Queensland.

The Spanish utility’s Australian unit stressed the large and sparsely populated region benefits from abundant wind and solar resources and will play a major role in delivering Queensland’s 50% renewables target by 2030. It also has the potential to become a major hub for green hydrogen, Iberdrola said, without giving further detail.

“Our investment in Mount James occurs in the context of a much broader strategic commitment to the Queensland market,” Iberdrola Australia chief executive Ross Rolfe said.