vales point power station closure vales point power station closure

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". 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 EPA ruling has fuelled concerns that NSW may face an energy supply crunch in the coming years as coal swiftly exits the market. Coal is carbon. 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 not what the community wants, because of climate change, and because of the environmental impacts of coal-fired power on our health. The Vales Point power station has been operating on the shores of Lake Macquarie since the 1960's and was constructed before NSW environmental protection laws came into effect. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. The operator applied for an exemption granted in December 2021 with a reduction variation and additional conditions imposed by the NSW Environment Protection Agency. To learn more, read our Privacy Policy. 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. Delta Electricity knocked back in February a $9 million government grant to upgrade one of the plants turbines. The study also criticized the absence of air pollution monitoring within 25 km of Eraring and the nearby Vales Point power station. The Lake Macquarie community and the Lake itself has long suffered as a result of pollution from the Vales Point power station. The coal for Vales Point is delivered by conveyor and a balloon loop connection to the Main Northern railway line between Wyee and Morisset. 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. Sev.en has reputation for keeping old and polluting power stations open longer than their use-by date and has indicated the same for Vales Point. If you disable this cookie, we will not be able to save your preferences. Vales Point power station is a major source of NOx on the Central Coast and beyond. However. Delta has been contacted for further comment. 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. Level 7 It also followed a dramatic increase in fine particle pollutionconfirmed by Vales Points own data in 2017. Origin Energys 2000 MW Liddell plant will close in early 2023. Leading Edge Energy is proud to be a signatory of the National Customer Code for Energy Brokers, Consultants and Retailers. The Vales Point coal power station was sold by the NSW government in 2015 for just $1 million. 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. Records date back to 2011. Environment groups question whether ageing stations exemptions from some pollution standards are valid. NSW EPA Chief Tony Chappel said the exemption, coupled with the requirement to cut emissions strikes the right balance between safeguarding environmental health and supporting NSWs need for reliable and affordable energy. We know that the emissions meet the National Environment Protection Measures for NOx, but weve got the environment groups position. 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. 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. 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. He noted the deal includes a coal mine that supplies the 1320-megawatt Vales Point generator and that the plant is in good order. NSW is facing a potential shortage of reliable power as coal power stations shut down, with the closure of AGL Energy's Liddell plant in the Hunter Valley in April 2023 set to be followed. 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. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity . Goldman Sachs said Vales Point, backed by energy mogul Trevor St Baker, was facing closure potential. Its a two years exemption, then we can apply for another period of time. (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. (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. 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 provides 11% of NSW electricity. Invoice Validation & Network Tariff Analysis. The EPA granted Delta an exemption to the licence, however, the exemption went hand in hand with an order to reduce daily levels. 287 Elizabeth Street Victoria Energy Policy Centre director Bruce Mountain said the Victorian government had struck an entirely sensible deal with EnergyAustralia to bring forward closure at Yallourn, which provided a long lead time of seven years for the market to fill gaps in power supply by 2028. Before joining RenewEconomy, Michael worked in climate and energy policy for more than a decade. 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. A spokesperson for Delta Energy said there were no plans for Vales Point to go the same way as Eraring. He dismissed the suggestion that Vales Point would close earlier than 2029, particularly given the impending closure of its near neighbour, Liddell Power Station, in 2023. Australia's fleet of coal-fired power stations are aging and many are due for decommissioning, and are being replaced by a combination of mostly renewable energy. Future Sooner is a community action group working towards a clean energy future for the Central Coast and Lake Macquarie. 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. In a statement Mr St Baker highlighted the buyers commitment to growing the business. 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. There are three methods to extract hydrogen. 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. 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. Cooking with gas: How bad for your health is it, really? If you want to be updated with all the latest energy sector news, you can sign up for our newsletter or visit our blog section. The facility is old, dirty, and poorly maintained. Only this week did the Federal Government flag that commercial interest in the Hunter-Central Coast Renewable Energy Zone (REZ) has been significant. If the sale goes through, it will continue to pollute long past its slated 2029 closure date. 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 combined capacity of 2195 MW made Vales Point the largest power station in Australia at the time. 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. 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 map below shows the location of the plant, near Mannering Park, New South Wales. 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. Its coal. The first two units were completed in 1963, and the third in 1964. Sydney, NSW 2000 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. Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. 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. Vales point already has an exemption licence to pollute over and above NSW emission controls. 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. Vales Point 'A' Station was decommissioned in 1989. The announcement today by Original doesnt change Vales Points position, said the spokesperson. Vales Point Power Plant is owned by Delta Electricity, but in September the company announced that the plant is being sold to Czech family investment group Sev.En Global Investments. Two investors have bought one of NSW's largest coal-fired power stations for the price of a nice suburban house. 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. 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. We will not spam you or sell your details. The power stations end of technical life is set for 2029. AGL Energy has also brought forward the closure of its 2220 MW Loy Yang A plant in Victoria to 2035.