However, a 2015 report from the state government's Coal Innovation Fund says the CCS . The sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. 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". Invoice Validation & Network Tariff Analysis. AGL said it was still committed to its plans for Liddell. . Wikimedia. Access unlimited content, the digital versions of our print editions - Today's Paper, as well as the Newcastle Herald app. 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. This field is for validation purposes and should be left unchanged. 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. Delta has been contacted for further comment. 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 ? 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. [9][10][11], Vales Point Power Station was used as the location for the Midnight Oil US Forces music video.[12][13]. 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. The EPA granted Delta an exemption to the licence, however, the exemption went hand in hand with an order to reduce daily levels. These are known as blue hydrogen. The Hunter Hydrogen Hub will drive new low carbon jobs and help to set up the regionfor the future, Mr Kean will say. Cockle Creek Power Station - Wikipedia 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. We use "cookies" to enhance your experience on our website. [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. 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. Before joining RenewEconomy, Michael worked in climate and energy policy for more than a decade. Please correct the marked field(s) below. 4 was brought into use in 1966. Delta chief executive Greg Everett said the proposed deal, which has yet to be approved by the Foreign Investment Review Board, was a positive development for Delta and its stakeholders. 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. 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. Renewables boom prompts calls to start planning for Yallourn coal Anger as public funds extend life of dirty Vales Point power station Early closure of Australia's largest coal-fired plant could create Vales Point provides 11% of NSW electricity. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. In our view, the risk of accelerating coal generation closures is increasing as the market makes room for the rapid addition of renewable generation.. Eraring power station closure: NSW taxpayers could foot part of the 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. 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.. The study also criticized the absence of air pollution monitoring within 25 km of Eraring and the nearby Vales Point power station. AGL, rival Origin Energy and EnergyAustralia have all brought forward the dates for closure of coal-fired power stations since the start of 2021, triggering suggestions that some other coal generators may need to keep running for longer to keep electricity supply secure amid the rise of weather-dependent wind and solar power. Cockle Creek Power Station was located in Teralba, New South Wales, Australia on the banks of Cockle Creek. Vales Point Power Station sale completed December 18, 2022 by Merilyn Vale Sev.en Global Investments has announced it has completed its acquisition of Delta Electricity Pty Ltd, the parent company of the Vales Point Power Station and the Chain Valley Colliery. 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. Coal plant closures loom large as NSW backs hydrogen for the Hunter. 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. 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. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. Eraring and Vales Point coal-fired power stations in the Hunter could Mr St Baker said he was looking for international investors after Australian banks and major lenders ruled out exposure to coal project funding, in part because of climate change stranded asset risks. The generation table uses eljmkt nemlog to obtain generation values for each year. 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. While Delta secretary Steve Gurney said the sale of Vales Point was a completely unrelated commercial matter to the emissions issue, Nature Conservation Council chief executive, Jacqui Mumford, said the new owners should be required to slash the stations pollution so that people across NSW can breathe healthier air. Significant places & items of interest in the, New South Wales Environment Protection Authority, "NSW government sells Vales Point power station for $1m", Australian Financial Review (Subscription Required), "Vales Point power station privatisation put before auditor-general", "Plunging energy prices sink Vales Point power station", "St Baker and Flannery cash in on Vales Point coal plant in sale to Czechs", "Vales Point Power Station emission exemption application open for public comment", "New Vales Point pollution controls don't go far enough for environment groups", "Environment & Heritage | POEO Licences, Application and Notice Detail", "Strict new operating limits for Vales Point Power Station from 1 January", Electricity Commission of New South Wales, EnergyAustralia (state government enterprise), Sydney County Council (Sydney Electricity), List of power stations in New South Wales, Newcastle and Suburban Co-operative Society, Walsh Island Dockyard & Engineering Works, https://en.wikipedia.org/w/index.php?title=Vales_Point_Power_Station&oldid=1112958126, Coal-fired power stations in New South Wales, All Wikipedia articles written in Australian English, Infobox mapframe without OSM relation ID on Wikidata, Thermal power station articles using Infobox power station, Articles with unsourced statements from December 2021, Creative Commons Attribution-ShareAlike License 3.0, New England County Council (New England Electricity), North West County Council (North West Electricity), Northern Riverina County Council (Northern Riverina Electricity), Northern Rivers County Council (Northern Rivers Electricity), Peel-Cunningham County Council (PCCC Electricity), Shortland County Council (Shortland Electricity), Southern Mitchell County Council (Southern Mitchell Electricity), Southern Riverina County Council (Southern Riverina Electricity), Southern Tablelands County Council (Southern Tablelands Electricity), This page was last edited on 29 September 2022, at 00:23. 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. 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. NSW plant closures include the Vales Point power station, scheduled to shut in 2029-30. Description. Delta Electricity turns down $8.7 million grant for Vales Point 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. Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSWs energy. This will benefit customers, employees and system security for all energyusers.. Delta Electricity, which is jointly owned by Trevor St Baker and Brian Flannery, announced early in 2019 that it was seeking support for the proposal from the Australian Government's Underwriting New Generation Investments program.
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