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. 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. The script is starkly similar when it comes to water pollution from Vales Point, with offsite water contamination from the south-east portion of the ash dump identified in the Environment Protection Licence this year. Access unlimited content, the digital versions of our print editions - Today's Paper, as well as the Newcastle Herald app. We use "cookies" to enhance your experience on our website. 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. Vales Point Power Station exemption application NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. Unit no. . Transitioning the Hunter and Central Coast from a fossil fuels manufacturing base to one of renewable generation is underway. 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. News and analysis for the clean energy economy. Please correct the marked field(s) below. 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. 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. 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. 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. (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. AGL Energy has also brought forward the closure of its 2220 MW Loy Yang A plant in Victoria to 2035. Find them all here. 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. the Liddell plant is owned by AGL which has rejected . The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW. 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. St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. 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. 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. [3] The plan for a new 660-MW plant appears to be cancelled. The first two units were completed in 1963, and the third in 1964. Stop the Sale of Vales Point Power Station and Close It Down, Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean. Were working to restore it. 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 Hunter Hydrogen Hub will drive new low carbon jobs and help to set up the regionfor the future, Mr Kean will say. Vales Point Power Station sale completed 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. 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. Cockle Creek Power Station - Wikipedia Anger as public funds extend life of dirty Vales Point power station and Evie Networks, among other energy interests. air pollution exemption granted to Vales Point power station by the NSW EPA was successfully challenged by environment and legal groups. [9][10][11], Vales Point Power Station was used as the location for the Midnight Oil US Forces music video.[12][13]. 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. 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. Goldman Sachs said Vales Point, backed by energy mogul Trevor St Baker, was facing closure potential. We care about the protection of your data. offsite water contamination from the south-east portion of the ash dump identified in the Environment Protection Licence this year. The sale price was not included in the press statement released on Saturday, December 17. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. 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. Read our Privacy Policy. Its a two years exemption, then we can apply for another period of time. The big energy companies are also feeling the pressure from the Morrison government over the proposed closure dates for older coal-fired power stations. . 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Your digital subscription includes access to content from all our websites in your region. The map below shows the location of the plant, near Mannering Park, New South Wales. Early closure of Australia's largest coal-fired plant could create Vales Point Power Plant given two years to cut emissions Victoria's potential crunch comes with the 2028-29 closure of the Yallourn power plant in the. 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. . 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. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. 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. Coal-fired power will be needed to keep the lights on for another couple of decades, said Mr St Baker, who is an investor in fast charging system provider Tritium, which listed in New York early this year, and Evie Networks, among other energy interests. 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. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. Brisbane-based energy consultant Trevor St Baker and coal baron Brian Flannery. Andy Saunders 1 year ago John John 1 year ago Andy Saunders 1 year ago 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. 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". (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. 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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 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. Sign up for our newsletter to stay up to date. Environment groups question whether ageing stations exemptions from some pollution standards are valid. Vales Point is a coal-fired power station which supplies baseload electricity. When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. Phone: 02 4352 6111 Recent state government announcements in Queensland and Victoria look to cut coal generation out of the energy mix as soon as possible. Delta flagged early closure of Vales Point coal plant when it rejected In its home market, it runs two coal power generators and two combined heat and power plants. 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. 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. 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. Eraring closure has no impact on future of Vales Point Vales Point is located on the southern shore of the lake, near the township of Mannering Park. Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. . 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. However. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity. 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. 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. [5] The balloon loop opened in March 1980. Follow the topics, people and companies that matter to you. 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. We also request confirmation that Vales Point coal-fired power station will close in 2025 and will not receive another exemption licence. The grant was to pay for upgrades to a turbine at the Vales Point power station, increasing its thermal efficiency, allowing an additional 30MW of output for the same amount of coal burnt. They would be Australias first high-efficiency, low emissions stations, Mr St Baker said. 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. Owners of Vales Point power station turn down $8.7 million grant, blaming the Morrison government for taking too long to approve funds for turbine upgrades. As owners for the last eight years, Esprey and St Baker Family Trust have positioned the business to continue essential operations through the energy transition, but recognise that there are opportunities to grow the business and that this can be better accomplished in a portfolio with Sev.ens other base-load capable generation interests, he said. Records date back to 2011. The sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. He noted the deal includes a coal mine that supplies the 1320-megawatt Vales Point generator and that the plant is in good order. [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. @ Copyright RenewEconomy 2020. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. NSW government sells Vales Point power station for $1m Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSW's energy. Delta confirmed that it had terminated contracts with relevant suppliers for the turbine upgrades. The Morrison governments low emissions investment road map is technology neutral which meanspublic funding is availableto green and blue hydrogen. 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. Origin Energys 2000 MW Liddell plant will close in early 2023. The transaction still needs to be completed, with approval from the Foreign Investment Review Board outstanding. In 2022, an air pollution exemption granted to Vales Point power station by the NSW EPA was successfully challenged by environment and legal groups, who argued that community health impacts of toxic air emissions - including childhood asthma and premature deaths were - being ignored, pointing out that Vales Point routinely breach NSW air protection laws. who bought Vales Point power station from the NSW Government for a song in 2015, The power station offloaded by the NSW Government for $1 million suddenly has a future, clean up a huge part of the power stations ash dam, a dramatic increase in fine particle pollution, Department of Planning gives green light for Vales Point solar energy project, NSW Ports labels Newcastle container terminal 'white elephant' in parliamentary inquiry submission, Former professional surfer Jake Sylvester rescues swimmer at Merewether Beach, Wollombi Music Festival bans Wicked camper vans, National Farmers Federation and Agriculture Minister slam Aussie Farms interactive map of Australian properties, Train replica gives Newcastle something to choo on, Jets captain questions referee calls in controversial loss to Wellington, Police seek help to find 59-year-old missing from West Wallsend, Four assaulted in armed home invasion by five men wearing balaclavas, Toohey's News: Twin Towers key to Knights' rebuild, Terms and Conditions - Digital Subscription, Terms and Conditions - Newspaper Subscription. The largest coal plant in the state AGLs 2880 MW Eraring Power Station, will be closed in 2025. [1], In March 2019 Prime Minister Scott Morrison announced that Delta Electricity's proposal had been shortlisted but provided no details.[2]. Delta Flagged Early Closure of Vales Point Coal Plant When I Cooking with gas: How bad for your health is it, really? Vales Point coal-fired power station in NSW could be polluting in Granted in December last year, the exemption allows the operators to emit a higher level of nitrogen oxide than usually allowable under clean air regulations. 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. A licence granted last year exempts the operators of the Vales Point plant, recently sold to Sev.en Global Investments, from nitrogen oxide pollution standards. 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. AGL said it was still committed to its plans for Liddell. Eraring power station closure: NSW taxpayers could foot part of the Vales Point A (replacement) power station is a proposal by Delta Electricity to build a new 660 MW plant on the site of the demolished Vales Point A plant in New South Wales, Australia. The region has significantly higher than national rates of six cancers: Colorectal (14% higher), Head & Neck (26%), Kidney (23%), Liver (26%), Lung (28%) and Pancreatic (17%). 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.