It has been announced that the ageing Vales Point coal-fired power station on the Central Coast, NSW is to be sold by the Australian Delta Energy to the Czech fossil fuel investment company Sev.en, owned by billionaire Pavel Tyka. Mr St Baker, who bought Vales Point power station from the NSW Government for a song in 2015 and made $113 million in profit on the deal in 2017-18, has outlined plans for a new plant at Liddell or Vales Point as part of a $6 billion proposal for three coal-fired power stations in NSW and Victoria. offsite water contamination from the south-east portion of the ash dump identified in the Environment Protection Licence this year. Newcastle GP andpublic health academic Dr Ben Ewaldsaiddata from existing Hunter and Central Coast power stations provided more evidence of the need to replace old coal-fired power stations with renewable energy. The transaction still needs to be completed, with approval from the Foreign Investment Review Board outstanding. the Liddell plant is owned by AGL which has rejected . The generation table uses eljmkt nemlog to obtain generation values for each year. The future of NSWs coal-fired power plants is under increasing threat from cheap renewable energy, which this week forced Victorias Yallourn coal plant to bring forward its closure date as analysts warn the end may come even sooner. Sev.en Group is a global, experienced and responsible operator of conventional power plants. Transitioning the Hunter and Central Coast from a fossil fuels manufacturing base to one of renewable generation is underway. Coal is carbon. Vales Point 'A' Station was decommissioned in 1989. On this Wikipedia the language links are at the top of the page across from the article title. Nitric oxide oxidises in the atmosphere to form nitrogen dioxide. the nominal closure of Vales Point . Mr St Baker would not reveal the price of the deal, but said we didnt get close to $700 million. Renewables boom prompts calls to start planning for Yallourn coal Custom Content. AGL Energy announced it would move the. This means that every time you visit this website you will need to enable or disable cookies again. This field is for validation purposes and should be left unchanged. We oppose this sale as it is NOT in the local, state or national interest: . In the context of the confluence of the above factors, Delta will not pursue the Vales Point power station efficiency project. The script is starkly similar when it comes to water pollution from Vales Point, with offsite water contamination from the south-east portion of the ash dump identified in the Environment Protection Licence this year. In 2021, the Vales Point Power Station emitted more toxic nitrogen oxide pollutants than allowable under the NSW Protection of the Environment Operations (Clean Air) Regulation 2021. Delta Electricity has stated that Vales Point's "nominal closure" is due in 2029. . In December 2021, the value of the power station was written down to $156 million and in September 2022 Delta Electricity agreed to sell to Czech company, Sev.en Global Investments. Hoping that this means by 2029 transporting and storage of toxic coal dust via the eyesore transport chanel located over Rutleys road will cease and be dismantled ? The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.Credit:James Whelan. . September 2022 Delta Electricity agreed to sell to Czech company, Sev.en Global Investments. If Vales Point power station is allowed to operate beyond 2029, we know it will have continued serious consequences for the health of the community. Coal plant closures loom large as NSW backs hydrogen for the Hunter. Federal Energy and Emissions Reduction Minister Angus Taylor said last month that the industrys potential cannot be ignored and argued that Australia can attract $70 billion of investments over the next decade. Environment groups question whether ageing stations exemptions from some pollution standards are valid. No need to search elsewhere for all the latest updates on the electricity market and energy-efficiency tips that are important for you, the savvy business owner. If you disable this cookie, we will not be able to save your preferences. The man who bought Vales Point power station from the NSW Government 287 Elizabeth Street The role of Deltas Vales Point power station in two devastating fish kills that took place in mid-2002 in Wyee Bay are currently under investigation by the NSW EPA. We use "cookies" to enhance your experience on our website. On the international front the Morrison government has committed $70 million to help develop a regional hydrogen export hub, and Australia has signed agreements with Japan, Korea, Germany and Singapore to investigate hydrogen supply chains. The EPA also stipulated that Delta must investigate, mitigate and report on the causes of NOx emissions when the 1320-megawatt generator operates at less than half its capacity. Coal transport and infrastructure in Australia, Key developments in coal mining and power in Australia in 2012, Financing coal power stations in Australia, Underwriting New Generation Investments program, "Delivering affordable and reliable power", "Federal government shortlists upgrade of Vales Point power station turbine", https://www.gem.wiki/w/index.php?title=Vales_Point_A_power_station_(replacement)&oldid=241402, Creative Commons Attribution-NonCommercial-ShareAlike. Trevor St Baker's plans to keep burning coal at Vales Point beyond 2050 Vales Point Power Station - Wikipedia Vales Point sale HCEC The largest coal plant in the state AGLs 2880 MW Eraring Power Station, will be closed in 2025. . These are known as blue hydrogen. Delta Flagged Early Closure of Vales Point Coal Plant When I Early closure of Australia's largest coal-fired plant could create Delta Electricity turns down $8.7 million grant for Vales Point . Environmental Justice Australia solicitor Jocelyn McGarity said there were serious concerns the licence conditions were unlawful and that the plant should not be allowed to operate beyond 2029. Vales Point Power Plant is owned by Delta Electricity, but in September the company announced that the plant is being sold to Czech family investment group Sev.En Global Investments. All rights reserved. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.James Whelan Goldman Sachs said Vales Point, backed by energy mogul Trevor St Baker, was facing "closure potential". Mannering Park Progress Association spokesperson Sue Wynn said a new coal-fired power station at Vales Point was the worst news Mannering Park and surrounding areas could possibly hear. He dismissed the suggestion that Vales Point would close earlier than 2029, particularly given the impending closure of its near neighbour, Liddell Power Station, in 2023. Childhood asthma in the region has also been found to be extremely high (50% greater than in Sydney in spite of city transport fumes) and there is strong evidence that students who attend schools within a 10 Km radius of a coal fired power station have a reduction in learning outcomes due to the emissions from burning coal. The Lake Macquarie community and the Lake itself has long suffered as a result of pollution from the Vales Point power station. Vales Point provides 11% of NSW electricity. There are three methods to extract hydrogen. On Tuesday the NSW energy minister, Matt Kean, declined to weigh in on whether the sale was appropriate, but said the government would remain vigilant over the plant operations. The first two units were completed in 1963, and the third in 1964. Energy Australia to close Yallourn power station early and build 350 Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. Sign up for our newsletter to stay up to date. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. Sev.en has reputation for keeping old and polluting power stations open longer than their use-by date and has indicated the same for Vales Point. Delta confirmed that it had terminated contracts with relevant suppliers for the turbine upgrades. Cockle Creek Power Station - Wikipedia Vales Point Power Station will have its limits on nitrogen oxides (NOx) emissions cut by up to 35% to meet new national air quality standards in the local community, and will have to adhere to strict new monitoring and reporting conditions from next year. Parliamentary Secretary for the Central Coast, Adam Crouch, said the results of the registration of interest showed that the region was set to reap the jobs and investment rewards from the transformation of the energy system. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. But Delta managing director Greg Everett described the objections raised about the time limits for its application for an exemption as an administrative interpretation issue, not an environmental one. Mr St Bakers announcement came as the Institute for Energy Economics and Financial Analysis (IEEFA) released a report on Monday showing Chinese finance is increasingly stepping in as the lender of last resort for coal plants, as other banks take active measures to restrict their funding. (Delta Electricity have also flagged the possibility of the proposed plant being built on the the site of the nearby Liddell power station, which is slated for closure in 2022. Contents 1 Location 2 Background on Plant 3 Carbon capture project 4 Environmental Impact 4.1 Air pollution 4.2 Coal ash dam 5 Future shutdown date 6 Interest in buying Liddell coal plant He noted the deal includes a coal mine that supplies the 1320-megawatt Vales Point generator and that the plant is in good order. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. As previously revealed by RenewEconomy, Delta told the Department of Industry, Science, Energy and Resources in December that it would not proceed with a formal application for $8.7 million in grant funding that had been set aside in the 2020 federal budget. It leaves the Morrison governments UNGI program has still having supported no new generation investments, despite being first announced in October 2018, and announcing a dozen shortlisted projects more than two years ago. Sign up to The Sydney Morning Heralds newsletter here, The Ages here, Brisbane Times here, and WAtodays here. The ageing Vales Point coal-fired power station on the New South Wales Central Coast, due to close in 2029, was given a stay of execution in the federal budget. A Morrison government plan to fund upgrades at the Vales Point coal fired power station fell through after the government offered insufficient funding for the upgrades to take place, with owners Delta Electricity warning the plant could close early, documents obtained under FOI show. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. Health at GoPetition. Analysts identified particular economic risk for Vales Point coal power near Newcastle, the same region where NSW Energy Minister Matt Kean will today announce a $70 million fund to grow a green hydrogen industry, which he said would bring jobs and growth to the region. Solar feed-in tariffs cut again, despite much higher wholesale grid prices, How to double your old homes energy rating: Lessons from two efficiency retrofits, All-electric Polestar doubles sales, boosts margins as it prepares more EV models, EV battery recycler hits 95% recovery rate in world-first collection program, Electric vehicles grab record 6.8 pct share of Australia market as Tesla rules again. The other legacies of coal power include environmental and community impact that cannot be ignored as the closure of power stations take place in NSW. News and analysis for the clean energy economy. Help using this website - Accessibility statement, Alinta Energys Hong Kong-based owner Chow Tai Fook Enterprises is understood, EnergyAustralias owner CLP Group, also based in Hong Kong, is in the market, AGL Energy is struggling to determine its forward strategy. Lake Macquarie Home Fishing Fishing closures, restrictions and permits Lake Macquarie The above closures are generated from the Fisheries Management (General) Regulation 2019 unless otherwise specified. Correspondence obtained by RenewEconomy through a freedom of information request shows that Delta Electricity cited ongoing policy uncertainty, questions about the long-term future of the plant and an inadequate funding offer from the Morrison government as reasons for cancelling proposed upgrades to Vales Point. The black coal operators run at a much higher short-run marginal cost and so those nearing the end of their technical lives may be re-evaluating their closure dates, Mr Allen said. Mr . Level 7 Wholesale power prices are meanwhile several times higher than the $40-$45 megawatt-hour range that prevailed when he and billionaire partner Mr Flannery bought the generator. Description. [citation needed], In November 2015, the Government of New South Wales sold Delta Electricity, which at that time owned only the Vales Point Power Station, to Sunset Power International for $1 million. It is also gearing up to invest more in the business as it seeks approval for a license to allow mining to continue until 2029. In a statement Mr St Baker highlighted the buyers commitment to growing the business. Coal supplies NSW with an average of 63 percent of its energy requirements, while the National Energy Market average is 59 percent. Kean confirmed exemptions granted to Delta during the purchase including a cap of $10m on rehabilitation likely to cost hundreds of millions of dollars would remain in place despite the sale. We know that the emissions meet the National Environment Protection Measures for NOx, but weve got the environment groups position. Its like selling an unregistered car. Origin Energys 2000 MW Liddell plant will close in early 2023. If the sale goes through, it will continue to pollute long past its slated 2029 closure date. Mr Taylor set a January 23 deadline for 24 hour baseload reliable projects eligible for government underwriting. Please correct the marked field(s) below. Vales Point coal-fired power station in NSW could be polluting in Publicly owned until 2015 when sold to Sunset International Power for $1 million, the deal capped the new owners site rehabilitation costs to just $10M. We make strategic investments with long-term commitment.. Vales Point Power Station Submission Guide - Nature Conservation We already have really low NOx emissions, lower than Bayswater and Mt Piper, and we are doing operational changes, and we believe that we will meet whatever the requirements are going to be.. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. Read our Privacy Policy. The funding was to be provided as an ad hoc grant under the Morrison governments Underwriting New Generation Investments (UNGI) program, meaning the funds could only be used for Delta Electricitys proposed upgrades. Leading Edge Energy is proud to be a signatory of the National Customer Code for Energy Brokers, Consultants and Retailers. Energy analysts said the renewables-led collapse in average prices across the nations electricity grid was so severe that the 1480-megawatt facility supplying up to 22 per cent of the states power could close even sooner than expected. Key points: Energy Australia will build a 350 megawatt, utility-scale battery in the Latrobe Valley by the end of 2026 The giant coal-fired Yallourn plant has been operating for 47 years When there are renewable energy alternatives available, like the Star of the South project, that will generate clean energy and create local jobs, there is no excuse for building more, big polluting coal projects that pollute our air and make our communities sick, Ms Rivers said. Delta Electricity knocked back in February a $9 million government grant to upgrade one of the plants turbines. Eraring power station closure: NSW taxpayers could foot part of the Follow us on LinkedIn, Facebook or Instagram. With only an approximately seven-year operating life now remaining, and a very weak wholesale electricity forward curve, we believe Yallourns permanent exit may still be even earlier than now planned, Goldman Sachs analyst Baden Moore said. The Morrison governments low emissions investment road map is technology neutral which meanspublic funding is availableto green and blue hydrogen. The Vales Point coal power station was sold by the NSW government in 2015 for just $1 million. The Liddel power station in the NSW Hunter is already set to close in 2023, but the report said at least one more closure in the state is likely before 2025. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity. One uses gas and the other uses coal or gas, and for either to be a clean energy source they require carbon capture and storage to stop the emissions from the fossil fuels entering the atmosphere. The turbines were removed in 1997; the boilers and buildings were demolished between 201114. Its been a double whammyin the last couple of days first Wallarah 2, which is the Central Coasts Adani, and now this, another coal-fired power station proposal., Read more:Department of Planning gives green light for Vales Point solar energy project. Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights. Its also unknown how the sale will impact the rehabilitation responsibilities for the power station ash dumps, she said. In January 2019 St Baker told The Australian that he would submit a proposal to Australia's Minister for Energy, Angus Taylor, for government support from the Underwriting New Generation Investments program for three projects including a new A$2 billion 660 MW black coal plant in NSW's Hunter Valley at the Vales Point A power station site or at AGL's Liddell power station.The report claimed "St Baker has lined up a Chinese joint-venture partner" but did not name the company. The WHO annual guideline for PM2.5 of 5 ug/m3 is breached across the Sydney Greater Metropolitan Area, and coal power station NOx is a significant contributor to this pollution. Michael Mazengarb is a Sydney-based reporter with RenewEconomy,writing on climate change, clean energy, electric vehicles and politics. In addition to its stake in InterGen, which has interests in the Millmerran and Callide power stations in Queensland, Sev.en owns four gas-fired generators in the UK and one of the largest metallurgical coal producers in the US, called Blackhawk Mining. Stop the Sale of Vales Point Power Station and Close It Down, Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean. One is electrolysis that uses electricity to split water, which can be powered by renewables in an emissions-free process and is known as green hydrogen. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. It is not what the community wants, because of climate change, and because of the environmental impacts of coal-fired power on our health. Delta said it did not make financial sense to proceed with the upgrade with the smaller grant amount, given ongoing uncertainty in the energy market and the looming closure of the power station, currently slated for 2029. The coal-fired Vales Point power plant in New South Wales must cut nitrogen oxide emissions within two years or may face early closure after a ruling by the Environment Protection Authority. Private owners net millions in sale of ageing coal-fired power station in NSW, Original reporting and incisive analysis, direct from the Guardian every morning. It listed Eraring, Vales Point and Mt Piper in NSW and Yallourn in Victoria as most vulnerable. Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. This site uses "cookies" to give you the best experience on this website. At home, the National Energy Resources Australia is offering $1.7 million in seed funding for hydrogen business to set up industry hubs, the Clean Energy Finance Corporation has a $300 million fund for hydrogen projects - including those powered by fossil fuels, and the Australian Renewable Energy Agency has $70 million available for green hydrogen projects. The energy and materials can be provided by either renewable power and water, orcoal and gas. Please try again later. Delta Electricity and Mr St Bakers Energy Innovation Fund did not respond to calls for comment. The black coal burned at Vales Point is more expensive than Yallourns brown coal, Mr Everett said, but Vales Point could be run with more flexibility to quickly ramp output up or down to better match demand limit production costs. Sign up to receive an email with the top stories from Guardian Australia every morning. Delta Coal which supplies Vales Point have an active proposal to continue mining largely exploited seams under the lake and ash dump until 2029 and community fears over worsening pollution impacts from this aging facility under this potential new ownership have been made public. Eraring power station - Global Energy Monitor It has previously been reported that the EPA briefed the states environment minister, James Griffin, over concerns about the exemption, as well as seeking approval to pay a senior barrister for advice on the legality of the exemption. The owners of the Hazelwood coal plant in the Latrobe valley only provided five months notice ahead of its closure in 2017, which delivered a big blow to the workforce and Victorias power prices. Delta Energys plans for Vales Point power station at Mannering Park will go unchanged despite the announcement by Origin Energy on February 17 that it will close Eraring Australias largest power station seven years early. The Toshiba 660 MW turbo-alternator became the standard in New South Wales, with similar units later being installed at Eraring, Bayswater and Mount Piper. Vales Point A power station (replacement) - Global Energy Monitor The big energy companies are also feeling the pressure from the Morrison government over the proposed closure dates for older coal-fired power stations. However, the company also flagged that it remained open to shifting the closure date of the Vales Point power station, which was dependent on the prevailing conditions in the energy market. As outlined in the budget speech and subsequent announcement, the budget allocation has a funding cap of $8.7m, which is below that which Delta requested, leaving a substantially higher quantum of funding by Delta, Delta said in the letter. Cockle Creek Power Station was located in Teralba, New South Wales, Australia on the banks of Cockle Creek. Given that the ongoing operation of the Vales Point power station remains subject to market forces, and noting the current forecast closure date of 2029 may come forward or be deferred on the strength of these market forces, the benefits arising from the remaining life of Vales Point power station and the proposed project have been diminished by the passage of time, Delta said. Vales Point is a coal-fired power station which supplies baseload electricity. Renewable energy boom could force coal power to close early, says new The operator applied for an exemption granted in December 2021 with a reduction variation and additional conditions imposed by the NSW Environment Protection Agency. The Vales Point power station has been operating on the shores of Lake Macquarie since the 1960's and was constructed before NSW environmental protection laws came into effect. Carbon Monitoring for Action estimates that Vales Point emits 9.32 million tonnes of greenhouse gases per year from burning coal. Stop the Sale of Vales Point Power Station and Close It Down Billionaire Trevor St Baker will reignite plans for a 20-year extension of NSW's Vales Point coal power station amid fears the early closure of Origin Energy's giant Eraring plant may lead to market volatility and higher prices. and Evie Networks, among other energy interests. Mr St Bakers proposal was also raised as the Federal Government approved the controversial Wallarah 2 underground coal mine north of Wyong, leading critics to warn the government could kiss goodbye to the Liberal-held Central Coast seat of Robertson because the community strongly opposes amine in the regions water catchment. Future: Part of the Vales Point power station on the Central Coast. Strict new operating limits for Vales Point Power Station from 1 January Managing director Greg Everett said the decision was not due to plans for an early closure, but rather the grant approval process and timing did not meet the companys own timeline for having works completed. The deal comes amid an extended period of turbulence in baseload power generation in the National Electricity Market as cheap renewable energy flowing on to the grid makes it harder to operate baseload coal plants profitably, even amid surging prices for wholesale electricity. "Hundreds of thousands of people living near Australia's largest power station do not know what they are breathing," the report states. Were sorry, this feature is currently unavailable. It was a good letter from Anne Aldcroft (CCN380) regarding dog owners not doing their duty. Only this week did the Federal Government flag that commercial interest in the Hunter-Central Coast Renewable Energy Zone (REZ) has been significant. With this acquisition we will significantly strengthen our presence in Australia, said Sev.en chief executive Alan Svoboda. Federal Budget 2020: 'Scandalous' Vales Point coal project slammed The sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. However. This page was last edited on 30 April 2021, at 11:25. For fossil fuel production to be clean carbon capture has to be tacked on to capture the emissions. Commercial interest has been registered in 24 solar energy projects; 13 onshore and seven offshore wind energy projects; 35 large-scale batteries and eight pumped hydro projects. NSW taxpayers might have to pay some remediation costs associated with the closure of Origin Energy's Eraring coal-fired power station when it shuts down in 2025. We will not spam you or sell your details. Alinta Energys Hong Kong-based owner Chow Tai Fook Enterprises is understood to have fielded approaches for the Australian business, which includes the large Loy Yang B coal power generator in Victoria. Under . We continue to invest in the reliability of Vales Point to its notional closure in 2029. Sep 18, 2022 - 3.16pm Energy entrepreneur Trevor St Baker and coal investor Brian Flannery will sell their Vales Point coal-fired power station in NSW for several hundred million dollars to. In an open letter to the Newcastle Herald, eleven community environment groups from Lake Macquarie and the Hunter urge the Australian Treasurer, Jim Chalmers to reject the sale of the Vales Point power station for fear of worsening impacts.
When A Guy Gives You A Thumbs Up Emoji,
Baseball Playlist Video,
Articles V
vales point power station closure