vales point power station closure

Access unlimited content, the digital versions of our print editions - Today's Paper, as well as the Newcastle Herald app. and Evie Networks, among other energy interests. On Tuesday Kean said he was still expecting the plant to close by 2029, saying the state had plans in place to ensure that the capacity of Vales Point is replaced by that time. The Vales Point coal power station was sold by the NSW government in 2015 for just $1 million. Phone: 02 4352 6111 Unit no. 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. Thermochemical reactions drive the other two methods. 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Feb 18, 2022 - 5.07pm. 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. 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. Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. The transaction still needs to be completed, with approval from the Foreign Investment Review Board outstanding. 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. [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. Victoria's potential crunch comes with the 2028-29 closure of the Yallourn power plant in the. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. 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. Vales Point 'A' Station was decommissioned in 1989. It produces about four per cent of the electricity supplied to consumers in the National Electricity Market. The sale price was not included in the press statement released on Saturday, December 17. For more detailed local information see the Lake Macquarie Hunter Recreational Fishing Guide Back to top This field is for validation purposes and should be left unchanged. Coal supplies NSW with an average of 63 percent of its energy requirements, while the National Energy Market average is 59 percent. 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 energy and materials can be provided by either renewable power and water, orcoal and gas. 4 was brought into use in 1966. The Hunter Hydrogen Hub will drive new low carbon jobs and help to set up the regionfor the future, Mr Kean will say. 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. In a letter obtained by RenewEconomy, Delta told the department that the funding was below the amount of funding the company had requested and left the company carrying too much of the cost. 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. It is acidic, has an unpleasant odour and is highly corrosive. Sign up to The Sydney Morning Heralds newsletter here, The Ages here, Brisbane Times here, and WAtodays here. 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. Mr . 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. Sev.en has shown a clear interest in energy businesses in Australia, ensuring that it is well-placed to provide reliable generation through the energy transition, he said. . Coal plant closures loom large as NSW backs hydrogen for the Hunter. Andy Saunders 1 year ago John John 1 year ago Andy Saunders 1 year ago Your digital subscription includes access to content from all our websites in your region. . Two investors have bought one of NSW's largest coal-fired power stations for the price of a nice suburban house. "Hundreds of thousands of people living near Australia's largest power station do not know what they are breathing," the report states. 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. The first two units were completed in 1963, and the third in 1964. 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. 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. Mr St Baker said Evie Networks was moving into a capital-intensive phase with the rollout of 300 fast charging stations around Australia, while he was also involved in developing e-mobility in the Philippines. In 1978, two Toshiba 660 MW units were added, becoming "B" Station. 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 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. Read our Privacy Policy. 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. 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. 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. Energy Australia will close the Yallourn power station in Victoria's Latrobe Valley in mid-2028, four years ahead of schedule, and build a giant battery instead. Custom Content. Environment groups say an ageing coal-fired power station in New South Wales that sold for hundreds of millions of dollars may be operating in breach of the states clean air laws. . 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. The coal for Vales Point is delivered by conveyor and a balloon loop connection to the Main Northern railway line between Wyee and Morisset. . [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. St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. Origin Energys 2000 MW Liddell plant will close in early 2023. Follow our Australia news live blog for the latest updates, sold the 1,320-megawatt Vales Point power station, likely to cost hundreds of millions of dollars, seeking approval to pay a senior barrister. Vales point already has an exemption licence to pollute over and above NSW emission controls. They would be Australias first high-efficiency, low emissions stations, Mr St Baker said. It is also harmful to the environment. 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. 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. Goldman Sachs said Vales Point, backed by energy mogul Trevor St Baker, was facing closure potential. DPE is currently assessing an application by Delta to consolidate and expand its Chain Valley and Mannering collieries. Please correct the marked field(s) below. 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 NSW Government has responded to the closure of Eraring by saying that to ensure energy reliability, it will work with industry partners to install the Waratah Super Battery, a 700MW/1400MWh grid battery, by 2025 to release grid capacity so Sydney, Newcastle and Wollongong consumers can access more energy from existing electricity generation.. Follow us on LinkedIn, Facebook or Instagram. Find them all here. We oppose this sale as it is NOT in the local, state or national interest: In an application to the EPA, the power stations owners had requested a further five-year license exemption which allowed for the emission of more than 800mg per cubic metre of nitrogen oxide (NOx) per day. The sale reportedly netted Delta $200m despite the company paying only $1m to buy it from the NSW government in 2015, prompting the states opposition to accuse the Coalition of having dudded taxpayers over the sale. The EPA ruling has fuelled concerns that NSW may face an energy supply crunch in the coming years as coal swiftly exits the market. On this Wikipedia the language links are at the top of the page across from the article title. 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. 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. The power stations end of technical life is set for 2029. Were sorry, this feature is currently unavailable. [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 is one of the chief causes of yellow-brown smog. 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 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. We care about the protection of your data. 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. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. the nominal closure of Vales Point . 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. 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. To learn more, read our Privacy Policy. Michael Mazengarb is a Sydney-based reporter with RenewEconomy,writing on climate change, clean energy, electric vehicles and politics. Only this week did the Federal Government flag that commercial interest in the Hunter-Central Coast Renewable Energy Zone (REZ) has been significant. The decision by the EPA now allows for these conditions and limits to remain in Deltas Environmental Protection Licence, Delta spokesman Steve Gurney said. 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 Toshiba 660 MW turbo-alternator became the standard in New South Wales, with similar units later being installed at Eraring, Bayswater and Mount Piper. Several coal-fired plants in New South Wales have brought their closure dates forward. Environment groups question whether ageing stations exemptions from some pollution standards are valid. Its coal. The power stationed operated from 11 March 1927 until March 1976. 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. 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. 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. (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. The sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. 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. We use "cookies" to enhance your experience on our website. Follow the topics, people and companies that matter to you. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. 15 December 2021. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. 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. Stop the Sale of Vales Point Power Station and Close It Down, Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean. In the context of the confluence of the above factors, Delta will not pursue the Vales Point power station efficiency project. We do not want this in foreign hands. 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. 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. 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. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. 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.

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