Read our Privacy Policy. Health at GoPetition. We oppose this sale as it is NOT in the local, state or national interest: 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 The Sydney Morning Heralds newsletter here, The Ages here, Brisbane Times here, and WAtodays here. Delta flagged early closure of Vales Point coal plant when it rejected federal grant | RenewEconomy 1 year ago Kim Grierson 1 year ago 1 year ago Apparently NSW retained the decommissioning liabilities Andy Saunders 1 year ago Prices that make it profitable? These fossil fuel power stations burn coal to power steam turbines that generate some or all of the electricity they produce. 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. Description. 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. Given that the ongoing operation of the Vales Point power station remains subject to market forces, and noting the current forecast closure date of 2029 may come forward or be deferred on the strength of these market forces, the benefits arising from the remaining life of Vales Point power station and the proposed project have been diminished by the passage of time, Delta said. [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]. Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. 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. This field is for validation purposes and should be left unchanged. To learn more about how we use information collected with cookies, please read our Privacy Policy. The proposal isin response to Federal Energy Minister Angus Taylors call in September for fair dinkum baseload power generation after the Federal Government lost a public battle with generator AGL over the closure of Liddell power station in 2022. 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. Its coal. September 2022 Delta Electricity agreed to sell to Czech company, Sev.en Global Investments. 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. Commercial interest has been registered in 24 solar energy projects; 13 onshore and seven offshore wind energy projects; 35 large-scale batteries and eight pumped hydro projects. In addition to its stake in InterGen, which has interests in the Millmerran and Callide power stations in Queensland, Sev.en owns four gas-fired generators in the UK and one of the largest metallurgical coal producers in the US, called Blackhawk Mining. 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. 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. Follow us on LinkedIn, Facebook or Instagram. Mr St Baker would not reveal the price of the deal, but said we didnt get close to $700 million. 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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. 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. 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. Recent state government announcements in Queensland and Victoria look to cut coal generation out of the energy mix as soon as possible. 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. (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. 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. In January 2019 St Baker told The Australian that he would submit a proposal to Australia's Minister for Energy, Angus Taylor, for government support from the Underwriting New Generation Investments program for three projects including a new A$2 billion 660 MW black coal plant in NSW's Hunter Valley at the Vales Point A power station site or at AGL's Liddell power station.The report claimed "St Baker has lined up a Chinese joint-venture partner" but did not name the company. Goldman Sachs said Vales Point, backed by energy mogul Trevor St Baker, was facing closure potential. This will benefit customers, employees and system security for all energyusers.. In a statement Mr St Baker highlighted the buyers commitment to growing the business. [1], In March 2019 Prime Minister Scott Morrison announced that Delta Electricity's proposal had been shortlisted but provided no details.[2]. 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. the nominal closure of Vales Point . 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. It is one of the chief causes of yellow-brown smog. Vales Point power station is a major source of NOx on the Central Coast and beyond. 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. 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. As of 2021, the Vales Point Power Station emits more toxic nitrogen oxide pollutants than allowable under the NSW Protection of the Environment Operations (Clean Air) Regulation 2021 in order to continue to legally operate (or otherwise cease operating), the operator applied for an exemption under its licence 761,[8] which was granted on 15 December 2021 with a reduction variation and additional conditions imposed by the New South Wales Environment Protection Authority. 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. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.Credit:James Whelan. 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. Leading Edge Energy is proud to be a signatory of the National Customer Code for Energy Brokers, Consultants and Retailers. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. 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. We call on Federal Treasurer the Hon Dr Jim Chalmers and the NSW Treasurer and Minister for Energy, the Hon Matt Kean, to refuse the proposed sale of Vales Point Power Station to Czech company Sev.en. In 2010, a carbon capture and storage (CCS) project at Delta Electricity's now mothballed Munmorah power station was set for expansion, after receiving US$28 million in funding. NSW plant closures include the Vales Point power station, scheduled to shut in 2029-30.
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