However, a 2015 report from the state government's Coal Innovation Fund says the CCS . 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. It is also harmful to the environment. St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. A longstanding advocate of the need for round-the-clock dispatchable coal power, Mr St Baker said his decision to sell was more to do with wanting to redirect capital into his interests in electric vehicle charging than in any diminished conviction about the continuing need for coal-fired power as the transition to low-carbon power progresses. The turbines were removed in 1997; the boilers and buildings were demolished between 201114. Sign up to receive an email with the top stories from Guardian Australia every morning. While the Chinese government has signalled it will restrict coal lending, the country has yet to formally limit its investment in coal plants, the IEEFA report said. 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. They would be Australias first high-efficiency, low emissions stations, Mr St Baker said. The sale will facilitate this growth as Sev.en has shown a commitment to the sector and an ambition to expand, both in Australia and globally.. 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. In 2010, a carbon capture and storage (CCS) project at Delta Electricity's now mothballed Munmorah power station was set for expansion, after receiving US$28 million in funding. 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. Leading Edge Energy is proud to be a signatory of the National Customer Code for Energy Brokers, Consultants and Retailers. In public comments this week, the current owner of Vales Point, Trevor St Baker, indicated that Sev.en may seek to keep the station open beyond its current closure date of 2029, saying the company had shown a commitment to the sector and an ambition to expand, both in Australia and globally. AGL Energy announced it would move the. Sydney, NSW 2000 the practices of Delta Electricity, past and present that are driving a range of water pollution impacts in Lake Macquarie, the sale of the power station to Se.ven Global Investments, Closure planning, decontamination and rehabilitation. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. The transaction still needs to be completed, with approval from the Foreign Investment Review Board outstanding. With this acquisition we will significantly strengthen our presence in Australia, said Sev.en chief executive Alan Svoboda. 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. 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. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. Whoever owns these assets, I want to make sure they are acting in the interests of the citizens of this state, not for vested interests, he said. [9][10][11], Vales Point Power Station was used as the location for the Midnight Oil US Forces music video.[12][13]. [3], In September 2022 Sunset Power owners announced the sale of Vales Point Power Station to a Czech family investment group Sev.En Global Investments.[4]. 15% of Wyong and 11% of Gosford population suffer from 3 or more chronic health conditions including asthma, cardiovascular disease and diabetes, compared to 5% or less across Sydney. To learn more, read our Privacy Policy. But it also represents a significant expansion of Sev.en in Australias coal power sector beyond its interest in Queenslands InterGen, with the suggestion that further investments in the domestic energy sector may be on the cards. A failure to act is no longer an option, Mr Chappel said. There are three methods to extract hydrogen. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. (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. 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. In the context of the confluence of the above factors, Delta will not pursue the Vales Point power station efficiency project. We continue to invest in the reliability of Vales Point to its notional closure in 2029. 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. Its like selling an unregistered car. Future Sooner, local residents and health professionals are deeply concerned if this sale goes ahead it will extend the life of this filthy, old, polluting coal-fired power station and prolong the damage that is already affecting our health, said Gary Blaschke OAM, resident of Lake Munmorah, cancer sufferer and Future Sooner spokesperson. 4), for a total of 875 MW. It is understood that the joint owner of Delta, and significant political donor, Trevor St Baker, had been told informally in early 2020 that it was set to receive $11 million in grant funding from the Morrison government to fund the $20 million turbine upgrade. 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. Several coal-fired plants in New South Wales have brought their closure dates forward. We make strategic investments with long-term commitment.. Recent state government announcements in Queensland and Victoria look to cut coal generation out of the energy mix as soon as possible. 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. . 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. Please try again later. Andy Saunders 1 year ago John John 1 year ago Andy Saunders 1 year ago Level 7 . POWER magnate Trevor St Baker is expected to lodge a proposalwith the Federal Government today for a new Hunter or Central Coast coal-fired power station with a Chinese joint venture partner. The pair, who famously bought the generator for $1 million from the NSW government in 2015 and then revalued it at $722 million two years later, agreed to sell their respective 50 per cent stakes in Delta Electricity, the owner of the plant, to the family company Sev.en Global Investments. The largest coal plant in the state AGLs 2880 MW Eraring Power Station, will be closed in 2025. 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 EPA granted Delta an exemption to the licence, however, the exemption went hand in hand with an order to reduce daily levels. Delta has been contacted for further comment. 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. That, environment groups say, has given new urgency for the NSW Environment Protection Authority to clarify the legality of a pollution exemption provided to the plant late last year. We will continue to invest in the station both for ongoing energy needs and for system security, said the spokesperson. The report,China at a Crossroads: Continued Support for Coal Power Erodes Countrys Clean Energy Leadership,found Chinese financial institutions and corporations funded more than 25 per cent of all new coal plants outside China in 2018, or $35.9 billion for projects in 27 countries, excluding Australia. Were sorry, this feature is currently unavailable. It also followed a dramatic increase in fine particle pollutionconfirmed by Vales Points own data in 2017. Coal plant closures loom large as NSW backs hydrogen for the Hunter. This week Delta Electricity announced it sold the 1,320-megawatt Vales Point power station, located in the states Hunter region, to Sev.en Global Investments, owned by Czech billionaire Pavel Tyka. Vales Point Power Station February 17, 2022 Delta Energy's 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 - Australia's largest power station - seven years early. Description. The expectation has been that the power station would close in 2029 and the clean-up could begin., Vales Point on southern Lake Macquarie stayed in government hands until 2015, when the Coalition state government controversially sold it to energy entrepreneurs Trevor St Baker and Brian Flannery for $1 million., 167 Parry Street,Hamilton East, NSW, 2303, AboutCampaigningResearch & ReportsSubmissionsVolunteerHCEC NewsMedia ReleasesEventsContact UsCommittee Records, Barrington - Hawkesbury Climate Corridors Alliance, Water pollution Datawatch: NSW power stations. The power station's end of technical life is set for 2029. the Liddell plant is owned by AGL which has rejected a proposal to sell the site as they have their own plans to redevelop the site. Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. It just staggers me that Australia is so far behind the rest of the world which is switching to renewables while were still talking about projects like this, Ms Wynn said. the nominal closure of Vales Point . 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. For fossil fuel production to be clean carbon capture has to be tacked on to capture the emissions. In December last year, Vales Point was issued with an order to limit its emissions of nitrogen oxide. 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. Owners of Vales Point power station turn down $8.7 million grant, blaming the Morrison government for taking too long to approve funds for turbine upgrades. 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 Plant is currently set for closure in 2029, but the EPA ruling delivered on 28 October 2022 could bring that date forward to 2025. News and analysis for the clean energy economy. Its coal. 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. 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.
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