[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. 15 December 2021. Brisbane-based energy consultant Trevor St Baker and coal baron Brian Flannery. 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. USE is forecasted to be greater than the reliability standard from 2027-28 in New South Wales, increasing further from 2029-30 when Vales Point Power Station is expected to retire. The power station's end of technical life is set for 2029. 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. 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. Level 7 Vales Point power station, also referred to as the Vales Point B power station, is a 1,320-megawatt (MW) coal-fired power plant in New South Wales, Australia. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity . 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. 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.. It was commissioned in 1978 and is located on the southern shore of Lake Macquarie. Thermochemical reactions drive the other two methods. Munmorah power station - Global Energy Monitor With this acquisition we will significantly strengthen our presence in Australia, said Sev.en chief executive Alan Svoboda. To learn more about how we use information collected with cookies, please read our Privacy Policy. 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. Description. 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. For fossil fuel production to be clean carbon capture has to be tacked on to capture the emissions. On this basis, Delta respectfully and regrettably advises that it will not submit an application for UNGI grant for the proposed Vales Point power station efficiency upgrade project, Delta Electricity said. This will benefit customers, employees and system security for all energyusers.. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. 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. Its a two years exemption, then we can apply for another period of time. 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. 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 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. 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. Vales Point coal-fired power station in NSW could be polluting in Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. 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. It is one of the chief causes of yellow-brown smog. A failure to act is no longer an option, Mr Chappel said. 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. . 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. 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. The decision by the EPA now allows for these conditions and limits to remain in Deltas Environmental Protection Licence, Delta spokesman Steve Gurney 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. 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. 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. 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. The man who bought Vales Point power station from the NSW Government Two investors have bought one of NSW's largest coal-fired power stations for the price of a nice suburban house. 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. Sign up to The Sydney Morning Heralds newsletter here, The Ages here, Brisbane Times here, and WAtodays here. 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. 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. 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. Vales Point Power Station sale completed Recent state government announcements in Queensland and Victoria look to cut coal generation out of the energy mix as soon as possible. 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. However. Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights. 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. He floated the proposal only two weeks after the NSW Environment Protection Authority ordered Vales Point owner Delta Electricity to clean up a huge part of the power stations ash dam after dumped asbestos was found in building waste fill. 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. Delta Flagged Early Closure of Vales Point Coal Plant When I 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. Plunging energy prices sink Vales Point power station These fossil fuel power stations burn coal to power steam turbines that generate some or all of the electricity they produce. The Hunter Hydrogen Hub will drive new low carbon jobs and help to set up the regionfor the future, Mr Kean will say. These are known as blue hydrogen. Coal supplies NSW with an average of 63 percent of its energy requirements, while the National Energy Market average is 59 percent. Every time an old coal-fired power stations closes to be replaced by renewable energy, theres an immediate health benefit to communities within 100 kilometres of the facility, Dr Ewald said. In December last year, Vales Point was issued with an order to limit its emissions of nitrogen oxide. In its home market, it runs two coal power generators and two combined heat and power plants. Follow us on LinkedIn, Facebook or Instagram. Vales Point Power Station - Wikipedia 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. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. Carbon Monitoring for Action estimates that Vales Point emits 9.32 million tonnes of greenhouse gases per year from burning coal. It is also harmful to the environment. 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. 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. 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. Vales Point power station - Global Energy Monitor Anger as public funds extend life of dirty Vales Point power station Future Sooner is a community action group working towards a clean energy future for the Central Coast and Lake Macquarie. 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 project was moved to Vales Point Power Station in 2012, after Munmorah closed. There are three methods to extract hydrogen. To disable your cookies, please click on Settings. 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 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. 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. Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. Yalloun Power Station closure to put Newcastle's Vales Point in Sev.en Group is a global, experienced and responsible operator of conventional power plants. 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. On this Wikipedia the language links are at the top of the page across from the article title. 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.
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