Delta Electricity and Mr St Bakers Energy Innovation Fund did not respond to calls for comment. Im more interested now in what we are doing in electrifying the transport sector, absolutely critical steps forward in the rollout of charging infrastructure, he told The Australian Financial Review. By 2050, green hydrogen has the potential to drive $350 billion in investment across Australia in current dollars and up to $26 billion per year in additional GDP, supporting the emergence of new decarbonised industries such as green steel and ammonia.. 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. AGL said it was still committed to its plans for Liddell. Under . The EPA ruling has fuelled concerns that NSW may face an energy supply crunch in the coming years as coal swiftly exits the market. 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. This will benefit customers, employees and system security for all energyusers.. The study also criticized the absence of air pollution monitoring within 25 km of Eraring and the nearby Vales Point power station. The WHO annual guideline for NOx of 10 ug/m3 (4.87 ppb) is regularly breached at monitoring sites close to the Vales Point power station. However. It was commissioned in 1978 and is located on the southern shore of Lake Macquarie. 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". Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. The analysis found if power prices continued to decline, Yallourn, along with the Eraring, Mt Piper, Vales Point B and Gladstone black coal plants would be making a loss by 2025. Proponents of renewable energy and some business leaders haveraised concerns that financial supportfor hydrogen production powered by fossil fuels could artificially prolong the operation of the nations ageing fleet of coal-fired power stations, or create demand for gas which would be better directed to wind and solar projects. In February, Prime Minister Scott Morrison promised Liberal party donor and part owner Trevor St Baker that an $11 million grant would be going his way to make upgrades. News and analysis for the clean energy economy. 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. Follow the topics, people and companies that matter to you. AGL Energy has also brought forward the closure of its 2220 MW Loy Yang A plant in Victoria to 2035. 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. . 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. 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. 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. Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSWs energy. Currently the sale is under investigation by the Foreign Investment Review Board (FIRB) with its decision to be announced in mid-October 2022. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. 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. 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. In a statement Mr St Baker highlighted the buyers commitment to growing the business. 287 Elizabeth Street Were sorry, this feature is currently unavailable. Were working to restore it. The region has significantly higher than national rates of six cancers: Colorectal (14% higher), Head & Neck (26%), Kidney (23%), Liver (26%), Lung (28%) and Pancreatic (17%). If the sale goes through, it will continue to pollute long past its slated 2029 closure date. The proposal isin response to Federal Energy Minister Angus Taylors call in September for fair dinkum baseload power generation after the Federal Government lost a public battle with generator AGL over the closure of Liddell power station in 2022. Mr St Baker would not reveal the price of the deal, but said we didnt get close to $700 million. We will not spam you or sell your details. It is the second instance of the Morrison government failing to secure investment in new coal-fired generation infrastructure by offering insufficient funding support, following earlier revelations that the government had not provided sufficient grant funding to ensure proponents of a coal-fired power station in Queensland could complete a bankable feasibility study. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. 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. Meanwhile, EnergyAustralias owner CLP Group, also based in Hong Kong, is in the market for partnerships to support future investments to support the decarbonisation of the countrys third-largest power and gas supplier. Vales Point was originally equipped with three turbo-alternators of 200 MW supplied by the English Electric (unit nos. At the same time, embattled AGL Energy is struggling to determine its forward strategy and put in place a refreshed board after the collapse of a demerger plan and as its biggest shareholder, software billionaire Mike Cannon-Brookes, pushes for a faster exit from coal power to align with the goals of the Paris climate accord. A licence granted last year exempts the operators of the Vales Point plant, recently sold to Sev.en Global Investments, from nitrogen oxide pollution standards. Environment groups question whether ageing stations exemptions from some pollution standards are valid. Local health professionals have analysed government health data and found shocking evidence of high cancer rates among residents in suburbs surrounding the power station and its coal ash dam each year an extra 107 cancer cases and 58 cancer deaths above the national average. 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. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. Description. 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. Health at GoPetition. We call on Federal Treasurer the Hon Dr Jim Chalmers and the NSW Treasurer and Minister for Energy, the Hon Matt Kean, to refuse the proposed sale of Vales Point Power Station to Czech company Sev.en. As of 2021, the Vales Point Power Station emits more toxic nitrogen oxide pollutants than allowable under the NSW Protection of the Environment Operations (Clean Air) Regulation 2021 in order to continue to legally operate (or otherwise cease operating), the operator applied for an exemption under its licence 761,[8] which was granted on 15 December 2021 with a reduction variation and additional conditions imposed by the New South Wales Environment Protection Authority. NSW has committed to reach net zero greenhouse gas emissions, and the Hunter region is zoned for renewable energy development to help reach the goal. The energy and materials can be provided by either renewable power and water, orcoal and gas. Sydney, NSW 2000 Vales Point uses salt water from Lake Macquarie for cooling. NSW plant closures include the Vales Point power station, scheduled to shut in 2029-30. Please correct the marked field(s) below. The REZ will not only attract investment in clean energy, it will also underpin the growth of new low-carbon industries such as green hydrogen, ammonia and metals production which the world is going to need as it decarbonises, Mr Crouch said. 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. Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights. Your digital subscription includes access to content from all our websites in your region. St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. Vales Point 'A' Station was decommissioned in 1989. 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 ? It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity. Granted in December last year, the exemption allows the operators to emit a higher level of nitrogen oxide than usually allowable under clean air regulations. 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. 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. 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 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.. 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. 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. Environmental Justice Australia director of advocacy and research, Nicola Rivers, said it was gob-smackingthe Australian Government would look to Mr St Baker as they seek energy solutions for the future, particularly given his companies rejection of infrastructure to limit pollution from existing power stations. The value of the NSW coal power plant was cut to $156 million, down from $732 million in 2017 when power prices skyrocketed after the closure of the Hazelwood power station, documents. There are three methods to extract hydrogen. [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. Delta confirmed that it had terminated contracts with relevant suppliers for the turbine upgrades. Mr Kean will say the region has strong potential for green hydrogen, fuelled by renewable power sources, due to its access to existing energy infrastructure, sustainable water sources, ports and logistics. 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. The sale price was not included in the press statement released on Saturday, December 17. air pollution exemption granted to Vales Point power station by the NSW EPA was successfully challenged by environment and legal groups. But Tom Allen, director of Australian energy and utilities research with UBS, said the markets focus would be on the long-term viability of black coal-fired generators in NSW, particularly amid the NSW governments plan to ramp up renewable energy investment, which will place prices under further pressure. 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. Sign up to Guardian Australia's Morning Mail, Our Australian morning briefing email breaks down the key national and international stories of the day and why they matter. Its a two years exemption, then we can apply for another period of time. 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. 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. 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. Its members include residents and health professionals. Find them all here. It is also harmful to the environment. 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. 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. Vales Point provides 11% of NSW electricity. the nominal closure of Vales Point . (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. Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. Coal-fired power will be needed to keep the lights on for another couple of decades, said Mr St Baker, who is an investor in fast charging system provider Tritium, which listed in New York early this year, and Evie Networks, among other energy interests. The Vales Point coal-fired power station is expected to close in 2029 and there's concern the upgrade will extend this date even thought it's limited by state approvals, wiping out any emissions reduction benefits from the works. Its coal. He noted the deal includes a coal mine that supplies the 1320-megawatt Vales Point generator and that the plant is in good order. Delta Coal which supplies Vales Point have an active proposal to continue mining largely exploited seams, ommunity fears over worsening pollution impacts from this aging facility under this potential new ownership, RSVP for updates and an invitation in 2023. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. Its also unknown how the sale will impact the rehabilitation responsibilities for the power station ash dumps, she said. These fossil fuel power stations burn coal to power steam turbines that generate some or all of the electricity they produce. Before joining RenewEconomy, Michael worked in climate and energy policy for more than a decade. 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. At Delta, which supplies about 11 per cent of NSWs power, RBC is thought to have run a process to sell either 50 per cent or 100 per cent, with Mr St Baker originally keeping open an option to retain his stake. Sev.en Group is a global, experienced and responsible operator of conventional power plants. Vales Point power station is a major source of NOx on the Central Coast and beyond. Correspondence obtained through an earlier FOI request shows that Delta Electricity and the department undertook negotiations throughout 2020, ahead of funding being awarded in the federal budget. Thermochemical reactions drive the other two methods. "We predict that gas power station output will fall by 78 per cent and coal output . We also request confirmation that Vales Point coal-fired power station will close in 2025 and will not receive another exemption licence. Wikimedia. In 1978, two Toshiba 660 MW units were added, becoming "B" Station. [2] However, in December 2021, the value of the plant was cut to $156 million and the annual profit was reduced 93% to $9.3 million. [1], In 2017 it was valued at $732 million, and was estimated to make part-owner energy entrepreneur and former National Party candidate Trevor St Baker a half billionaire. Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSW's energy. Only this week did the Federal Government flag that commercial interest in the Hunter-Central Coast Renewable Energy Zone (REZ) has been significant. 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. the Liddell plant is owned by AGL which has rejected . To learn more, read our Privacy Policy. To disable your cookies, please click on Settings. Origin Energys 2000 MW Liddell plant will close in early 2023. NOx emissions can harm peoples health, contribute to respiratory illnesses and can cause asthma in children and the elderly. 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. All rights reserved. Two years on from the sale, the facility was valued at $722M. 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 This site uses "cookies" to give you the best experience on this website. 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. It also followed a dramatic increase in fine particle pollutionconfirmed by Vales Points own data in 2017. . 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. Invoice Validation & Network Tariff Analysis. In order to supply coal to the station, three mines were opened; Chain Valley Colliery, Newvale No.1 Colliery and Wyee State Mine. The decision by the EPA now allows for these conditions and limits to remain in Deltas Environmental Protection Licence, Delta spokesman Steve Gurney said. 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. . 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. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW. 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. Brisbane-based energy consultant Trevor St Baker and coal baron Brian Flannery. Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. Eraring and Vales Point power stations could be running multi-million dollar annual losses by 2025, the Institute for Energy Economics and Financial Analysis report found. Recent state government announcements in Queensland and Victoria look to cut coal generation out of the energy mix as soon as possible. Vales point already has an exemption licence to pollute over and above NSW emission controls. 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. 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. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. 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. Coal supplies NSW with an average of 63 percent of its energy requirements, while the National Energy Market average is 59 percent. In 2022, an air pollution exemption granted to Vales Point power station by the NSW EPA was successfully challenged by environment and legal groups, who argued that community health impacts of toxic air emissions - including childhood asthma and premature deaths were - being ignored, pointing out that Vales Point routinely breach NSW air protection laws. The Cockle Creek power station was built by Caledonian Collieries Limited between 1925 and 1927 to use low grade coal to provide power to Caledonian Collieries mines and the surrounding townships in both the . The largest coal plant in the state AGLs 2880 MW Eraring Power Station, will be closed in 2025. These four units were known as 'A' Station, its capacity of 875 MW being the highest in New South Wales at the time. The big energy companies are also feeling the pressure from the Morrison government over the proposed closure dates for older coal-fired power stations. 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. who bought Vales Point power station from the NSW Government for a song in 2015, The power station offloaded by the NSW Government for $1 million suddenly has a future, clean up a huge part of the power stations ash dam, a dramatic increase in fine particle pollution, Department of Planning gives green light for Vales Point solar energy project, NSW Ports labels Newcastle container terminal 'white elephant' in parliamentary inquiry submission, Former professional surfer Jake Sylvester rescues swimmer at Merewether Beach, Wollombi Music Festival bans Wicked camper vans, National Farmers Federation and Agriculture Minister slam Aussie Farms interactive map of Australian properties, Train replica gives Newcastle something to choo on, Jets captain questions referee calls in controversial loss to Wellington, Police seek help to find 59-year-old missing from West Wallsend, Four assaulted in armed home invasion by five men wearing balaclavas, Toohey's News: Twin Towers key to Knights' rebuild, Terms and Conditions - Digital Subscription, Terms and Conditions - Newspaper Subscription. 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. However, a 2015 report from the state government's Coal Innovation Fund says the CCS . Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. 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. AGL Energy announced it would move the. [3] The plan for a new 660-MW plant appears to be cancelled. Future Sooner is a community action group working towards a clean energy future for the Central Coast and Lake Macquarie.
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