Government and industry figures are circling around the plans for a new base load power station in north Queensland.

The Federal Government has released its feasibility study into the proposed station near Collinsville, which the State and local government hope will decrease electricity prices in the region.

The study said the project was viable, and may drive down power prices, but it will need millions in private investment.

It has not swayed the resolve of a group of Townsville business leaders, who say they will find significant investment from the private sector.

Townsville Enterprise Limited chief executive David Kippin has told the ABC that he and the consortium of elite Townsville business figures remain confident.

“It's far from a pipedream,” he said.

“This is not a business case. Businesses cases will evolve out of all the work that we've done.”

Some authorities have pointed to an obligation for the Queensland Government to provide power equitably around the state as evidence that it should put in money.

The Federal Government study raised questions about the viability of an irrigated precinct in the Upper Burdekin River, which it says would need to attract private sector investment as well

This is reportedly going to be a more difficult ask, as there is minimal investor interest in sugar cane plantations.

Further hampering the perceived willingness to invest, the Queensland Energy Minister has stated that Queensland has an excess of electricity plants, and will not need any more stations for up to six years.