Its like selling an unregistered car. Strict new operating limits for Vales Point Power Station from 1 January. 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. 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 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. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. Sign up to receive an email with the top stories from Guardian Australia every morning. This means that every time you visit this website you will need to enable or disable cookies again. It produces about four per cent of the electricity supplied to consumers in the National Electricity Market. 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. Currently the sale is under investigation by the Foreign Investment Review Board (FIRB) with its decision to be announced in mid-October 2022. Phone: 02 4352 6111 A failure to act is no longer an option, Mr Chappel said. Vales Point was the first major power station in New South Wales to be located near its fuel source (coal). A spokesperson for Delta Energy said there were no plans for Vales Point to go the same way as Eraring. Wholesale power prices are meanwhile several times higher than the $40-$45 megawatt-hour range that prevailed when he and billionaire partner Mr Flannery bought the generator. 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..
Federal Budget 2020: 'Scandalous' Vales Point coal project slammed (NB only name and email is required to sign the petition - contact details are optional), You can further help this campaign by sponsoring it. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales.
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. 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. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.Credit:James Whelan. 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.
Vales Point sale HCEC Plunging energy prices sink Vales Point power station Delta Flagged Early Closure of Vales Point Coal Plant When I 287 Elizabeth Street Delta has been contacted for further comment. At home, the National Energy Resources Australia is offering $1.7 million in seed funding for hydrogen business to set up industry hubs, the Clean Energy Finance Corporation has a $300 million fund for hydrogen projects - including those powered by fossil fuels, and the Australian Renewable Energy Agency has $70 million available for green hydrogen projects. 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. 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 a private Czech firm in what represents a further upheaval in the fast-changing sector. 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. 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. 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 largest coal plant in the state AGLs 2880 MW Eraring Power Station, will be closed in 2025. Level 7 Were carefully considering it and its an important decision to make and well be making that public shortly, he said. 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. 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 proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity.
Vales Point Power Station - Wikipedia Access unlimited content, the digital versions of our print editions - Today's Paper, as well as the Newcastle Herald app. We also request confirmation that Vales Point coal-fired power station will close in 2025 and will not receive another exemption licence. Were sorry, this feature is currently unavailable. [6], Carbon Monitoring for Action estimates this power station emits 9.32 million tonnes of greenhouse gases each year as a result of burning hydrocarbon fuels.[7]. 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. Read our Privacy Policy.
Stop the Sale of Vales Point Power Station and Close It Down The EPA ruling has fuelled concerns that NSW may face an energy supply crunch in the coming years as coal swiftly exits the market. Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSW's energy. 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. [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. . Mr St Baker would not reveal the price of the deal, but said we didnt get close to $700 million. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity . 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. Andy Saunders 1 year ago John John 1 year ago Andy Saunders 1 year ago
Renewables boom prompts calls to start planning for Yallourn coal Mr . Cockle Creek Power Station was located in Teralba, New South Wales, Australia on the banks of Cockle Creek. 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 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. 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 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. 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. The power stations end of technical life is set for 2029.
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. 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. The energy and materials can be provided by either renewable power and water, orcoal and gas. [1], In March 2019 Prime Minister Scott Morrison announced that Delta Electricity's proposal had been shortlisted but provided no details.[2]. 15 December 2021.
Vales Point Power Plant given two years to cut emissions Contents 1 Location 2 Background on Plant 3 Carbon capture project 4 Environmental Impact 4.1 Air pollution 4.2 Coal ash dam 5 Future shutdown date 6 Interest in buying Liddell coal plant One uses gas and the other uses coal or gas, and for either to be a clean energy source they require carbon capture and storage to stop the emissions from the fossil fuels entering the atmosphere. 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.
Munmorah power station - Global Energy Monitor Vales Point power station - Global Energy Monitor Environment Justice Australia and the Nature Conservation Council have questioned whether the renewal of a licence granting the plant operators exemptions from some pollution standards for nitrogen oxide is valid because, they say, Delta applied for the renewal after the deadline. 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. Hydrogen is a rare element which means it needs to be manufactured. Leading Edge Energy is an energy brokerage firm in Australia that specialises in energy cost reduction, solar and storage procurement, electricity and natural gas-use monitoring and reporting for commercial and industrial clients. 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. 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 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. 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. Thermochemical reactions drive the other two methods. If the sale goes through, it will continue to pollute long past its slated 2029 closure date. In order to supply coal to the station, three mines were opened; Chain Valley Colliery, Newvale No.1 Colliery and Wyee State Mine. . [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]. Origin Energys 2000 MW Liddell plant will close in early 2023. 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. . 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. 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. Two investors have bought one of NSW's largest coal-fired power stations for the price of a nice suburban house. Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights.
Coal plants list deadlines when their operating life is set to cease, but Dr Mountain said Victoria has secured a valuable guarantee that Yallourn will be available to produce until 2028, and if the company brings forward closure the state will receive compensation. Only this week did the Federal Government flag that commercial interest in the Hunter-Central Coast Renewable Energy Zone (REZ) has been significant. However, a 2015 report from the state government's Coal Innovation Fund says the CCS . To disable your cookies, please click on Settings. They would be Australias first high-efficiency, low emissions stations, Mr St Baker said. 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. "We predict that gas power station output will fall by 78 per cent and coal output . Nitric oxide oxidises in the atmosphere to form nitrogen dioxide. The project was moved to Vales Point Power Station in 2012, after Munmorah closed. 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. The decision by the EPA now allows for these conditions and limits to remain in Deltas Environmental Protection Licence, Delta spokesman Steve Gurney said. 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. The facility is old, dirty, and poorly maintained.
Lake Macquarie - Department of Primary Industries 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. Coal plant closures loom large as NSW backs hydrogen for the Hunter. Transitioning the Hunter and Central Coast from a fossil fuels manufacturing base to one of renewable generation is underway. Please correct the marked field(s) below. The only way to educate irresponsible people is to hit them in the pocket, Central Coast Council will amend planning controls to make way for a five-storey development on six consolidated parcels of land at 43-46 The Esplanade, Ettalong Beach, despite receiving 95 submissions, Parking at Gosford and Wyong Hospitals will be free for patients, staff and visitors if either the Labor party or the sitting Liberal-National parties are elected to Govern on March, Copyright Coast Community News 2022 - Phone 4325 7369, Free hospital parking says Labor, Libs and Nats post election, Umina Beach singer eliminated from Australian Idol, Mariners appoint A-League Womens head coach Emily Husband, Council amends planning controls to make way for five-storey development at Ettalong, Labor puts people with disability at core of its agenda, Councils development application blowout woes, Council set to sell commuter/shopper carparks at Woy Woy, on "Eraring closure has no impact on future of Vales Point", Little being done to protect health of northern residents, Council slated for misleading statements over boarding house, Major parties outline plans to take the region into the future, Detached houses decline in favour of multi-unit abodes, Government funding for new cabins at two holiday parks, Review of health care services at Long Jetty centre, The go-to guide for community services across the Coast, Special exhibition brightens hospital corridors.
Eraring and Vales Point coal-fired power stations in the Hunter could Vales Point coal-fired power station in NSW could be polluting in Custom Content. We already have really low NOx emissions, lower than Bayswater and Mt Piper, and we are doing operational changes, and we believe that we will meet whatever the requirements are going to be.. It also followed a dramatic increase in fine particle pollutionconfirmed by Vales Points own data in 2017.
At a budget estimates hearing last month, Stephen Beaman, a senior regulator at the EPA, said the agency would be finalising its position very shortly on the legality of the exemption. September 2022 Delta Electricity agreed to sell to Czech company, Sev.en Global Investments. 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.
Eraring power station closure: NSW taxpayers could foot part of the 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. Michael Mazengarb is a Sydney-based reporter with RenewEconomy,writing on climate change, clean energy, electric vehicles and politics. Goldman Sachs said Vales Point, backed by energy mogul Trevor St Baker, was facing closure potential. Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. Its members include residents and health professionals. Several coal-fired plants in New South Wales have brought their closure dates forward. Vales Point Power Station will have its limits on nitrogen oxides (NOx) emissions cut by up to 35% to meet new national air quality standards in the local community, and will have to adhere to strict new monitoring and reporting conditions from next year. It is not what the community wants, because of climate change, and because of the environmental impacts of coal-fired power on our health. [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.
Yalloun Power Station closure to put Newcastle's Vales Point in