QPM Energy has taken delivery in Queensland of two GE Vernova LM6000 gas turbines for its planned 112MW Isaac Power Station at Moranbah.

The ASX-listed company said the turbines, generators and associated equipment had arrived in Brisbane and were being held in secure storage before transport to the Bowen Basin project site.

The delivery is a key step in QPM’s plan to develop the gas-fired power station, which is intended to support Queensland’s electricity network and draw on the company’s gas reserves and infrastructure position in the Moranbah region.

QPM secured the GE Vernova units under a fixed-price contract in June 2025.

The company said this allowed it to avoid extended global supply-chain delays and rising prices for gas-fired generation equipment.

It said an independent valuation obtained by financiers for the Isaac Power Station had assessed the turbines at $US100 million, more than 40 per cent above QPM’s original purchase price.

QPM said it had already secured key development and environmental approvals from Isaac Regional Council and the Queensland Government.

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It has also executed a Connection Project Delivery Agreement with Powerlink Queensland for the project’s grid connection.

The company said it had invested about $138 million, unaudited, in Isaac Power Station development, capital expenditure and associated financing costs by the end of March 2026.

It has also arranged a financing facility to fund the capital cost of construction.

“It’s tremendous to see these turbines in Queensland ready for the Isaac Power Station,” QPM Energy (ASX: QPM) chief executive officer David Wrench said.

“QPM and Queensland are fortunate to have these GE Vernova units available to help power our future given the global boom in AI and data centre energy demand. 

“With our significant gas reserves and resources, infrastructure asset base and power generating capability, QPM has a unique platform to deliver value for shareholders.”

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