Pioneer-Burdekin Pumped Hydro Project has led to a home equity freeze, residents say

Fifty-four houses and 79 land parcels over 937 hectares would be underwater or impacted by infrastructure by 2035 if the Pioneer-Burdekin Pumped Hydro Project, announced by the state government in September, goes ahead west of Mackay.

Interim No Pumped Hydro president and Netherdale resident Leila Verban said the announcement had affected residents' home equity and property values.

"We're not allowed to use our properties for equity now. We can't get loans. [The banks have] basically put us all on hold for the next decade until this dam is decided - whether or not it goes ahead," she said.

Ms Verban said her partner, who lives next door and runs a cattle business over 140 hectares, had his financial plans upended.

"His bank manager has told him that this has destroyed his five year plan on this property. He's looking at potentially having to sell just so he can keep that growth happening with his company," she said.

Queensland Hydro interim CEO Chris Evans said it was working with the community.

"Queensland Hydro is working hard with each landowner to understand their own specific circumstances," Mr Evans said.

"These will be considered as part of any discussions related to compensation. We want to achieve a positive financial outcome for all landowners in the impacted area."

Mr Evans said the Queensland Hydro study looked at many sites around Queensland but analysis found the Pioneer-Burdekin site was the best option taking into account issues of environment, topography, geology, hydrology, community impacts and cost.

The dam would displace home owners and farmers due to the proposed two upper reservoirs and one lower reservoir. Concerns have also been raised about the effects on the platypus and bird populations.

A petition to stop the project, run by Member for Mirani Stephen Andrew of Pauline Hanson's One Nation, had 4656 signatures on Tuesday.

However, it also has the potential to deliver cleaner, reliable power - 5GW for 24 hours or 120GWh - with supply chain and economic opportunities for the greater Mackay region.

Ms Verban said the project would force her from her home.

"My property is proposed to go underwater," Ms Verban said.

"I bought my property with my brother as a generational property. We wanted to be able to give it to our kids."

Dalrymple beekeeper Doug Cannon has called the idea an "environmental disaster".

Mr Cannon, who is also the interim No Pumped Hydro vice president, said homes and farmland would be lost, but most importantly, the flora and fauna unique to the area.

"[They] tactfully presented proposing Netherdale and Dalrymple as the affected areas - places no one has heard of. However, it is the entire region being impacted; Eungella, Finch Hatton and the Mackay region. Calling this project a green solution is absolute madness," Mr Cannon posted on social media.

However, Energy Minister Mick de Brenni has said the project was proposed to be constructed well clear of protected areas.

Some residents have also taken issue with an alleged lack of consultation before Premier Palaszczuk's announcement.

"It was totally out of nowhere. I found out via text message from a friend. It all felt very hidden and secret and they didn't gain anyone's trust with how it was first handled at all," Ms Verban said.

Queensland Hydro will deliver an assessment to government in 2024, including consultation with traditional owners and the community, hydrological modelling and assessment of impacts.

It will continue to investigate other sites in the event the project is unable to proceed.

IN THE NEWS: