Vales Point sale HCEC Access unlimited content, the digital versions of our print editions - Today's Paper, as well as the Newcastle Herald app. 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. 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. 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. Brisbane-based energy consultant Trevor St Baker and coal baron Brian Flannery. We make strategic investments with long-term commitment.. 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. Delta Electricity turns down $8.7 million grant for Vales Point Follow us on LinkedIn, Facebook or Instagram. Vales Point power station, also referred to as the Vales Point B power station, is a 1,320-megawatt (MW) coal-fired power plant in New South Wales, Australia. The WHO annual guideline for PM2.5 of 5 ug/m3 is breached across the Sydney Greater Metropolitan Area, and coal power station NOx is a significant contributor to this pollution. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. Vales Point uses salt water from Lake Macquarie for cooling. Delta confirmed that it had terminated contracts with relevant suppliers for the turbine upgrades. 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. 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. We know that the emissions meet the National Environment Protection Measures for NOx, but weve got the environment groups position. Eraring and Vales Point coal-fired power stations in the Hunter could Unit no. 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? 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. 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 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. If you disable this cookie, we will not be able to save your preferences. 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 coal for Vales Point is delivered by conveyor and a balloon loop connection to the Main Northern railway line between Wyee and Morisset. The operator applied for an exemption granted in December 2021 with a reduction variation and additional conditions imposed by the NSW Environment Protection Agency. 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. It produces about four per cent of the electricity supplied to consumers in the National Electricity Market. 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. 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. Phone: 02 4352 6111 In December 2017, Origin Energy announced that it would close the . . 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 map below shows the location of the plant, near Mannering Park, New South Wales. 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. 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. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity. 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. For more detailed local information see the Lake Macquarie Hunter Recreational Fishing Guide Back to top . Delta Coal which supplies Vales Point have an active proposal to continue mining largely exploited seams, ommunity fears over worsening pollution impacts from this aging facility under this potential new ownership, RSVP for updates and an invitation in 2023. Anger as public funds extend life of dirty Vales Point power station The generation table uses eljmkt nemlog to obtain generation values for each year. Delta has been contacted for further comment. Vales Point Power Station sale completed Were sorry, this feature is currently unavailable. [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. Energy Australia to close Yallourn power station early and build 350 However. Please correct the marked field(s) below. 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. 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. At Delta, which supplies about 11 per cent of NSWs power, RBC is thought to have run a process to sell either 50 per cent or 100 per cent, with Mr St Baker originally keeping open an option to retain his stake. Mr St Bakers announcement came as the Institute for Energy Economics and Financial Analysis (IEEFA) released a report on Monday showing Chinese finance is increasingly stepping in as the lender of last resort for coal plants, as other banks take active measures to restrict their funding. AGL said it was still committed to its plans for Liddell. 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. Read our Privacy Policy. If the sale goes through, it will continue to pollute long past its slated 2029 closure date. 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. We also request confirmation that Vales Point coal-fired power station will close in 2025 and will not receive another exemption licence. 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. Coal plant closures loom large as NSW backs hydrogen for the Hunter. Vales Point was the first major power station in New South Wales to be located near its fuel source (coal). St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. Eraring power station closure: NSW taxpayers could foot part of the Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSWs energy. Officials from the department told Senate Estimates in March that they were aware that Shine Energy was likely to fail to deliver a bankable feasibility study into a proposed Collinsville coal fired power station after an audit undertaken by the Australian National Audit Office found the $4 million in grant funding awarded to the company was not enough to ensure the study could be completed. Environmental Justice Australia solicitor Jocelyn McGarity said there were serious concerns the licence conditions were unlawful and that the plant should not be allowed to operate beyond 2029. (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. It was a good letter from Anne Aldcroft (CCN380) regarding dog owners not doing their duty. We will continue to invest in the station both for ongoing energy needs and for system security, said the spokesperson. 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. The decision by the EPA now allows for these conditions and limits to remain in Deltas Environmental Protection Licence, Delta spokesman Steve Gurney said. 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. Sign up to The Sydney Morning Heralds newsletter here, The Ages here, Brisbane Times here, and WAtodays here. 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 sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. 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. The power station doesnt currently have a valid air pollution licence. Eraring power station - Global Energy Monitor On this Wikipedia the language links are at the top of the page across from the article title. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. However, the company also flagged that it remained open to shifting the closure date of the Vales Point power station, which was dependent on the prevailing conditions in the energy market. 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. These are known as blue hydrogen. The first two units were completed in 1963, and the third in 1964. 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. 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. It is acidic, has an unpleasant odour and is highly corrosive. Sev.en Group is a global, experienced and responsible operator of conventional power plants. Delta flagged early closure of Vales Point coal plant when it rejected 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. . Several coal-fired plants in New South Wales have brought their closure dates forward. Transitioning the Hunter and Central Coast from a fossil fuels manufacturing base to one of renewable generation is underway. 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 order to supply coal to the station, three mines were opened; Chain Valley Colliery, Newvale No.1 Colliery and Wyee State Mine. 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. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. The funding was to be provided as an ad hoc grant under the Morrison governments Underwriting New Generation Investments (UNGI) program, meaning the funds could only be used for Delta Electricitys proposed upgrades. To disable your cookies, please click on Settings. 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 has committed to reach net zero greenhouse gas emissions, and the Hunter region is zoned for renewable energy development to help reach the goal. 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. Carbon Monitoring for Action estimates that Vales Point emits 9.32 million tonnes of greenhouse gases per year from burning coal. Mr St Bakers proposal for a singleNSW plant and two new power stations in Victorias Latrobe Valleywas slammed by environment and community groups, who said the high-efficiency, low-emission plants were only one-third less polluting than highly polluting old power stations on the proposed sites. 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. The combined capacity of 2195 MW made Vales Point the largest power station in Australia at the time. Federal Budget 2020: 'Scandalous' Vales Point coal project slammed Energy analysts said the renewables-led collapse in average prices across the nations electricity grid was so severe that the 1480-megawatt facility supplying up to 22 per cent of the states power could close even sooner than expected. When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. Environment groups question whether ageing stations exemptions from some pollution standards are valid. 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. Sign up to receive an email with the top stories from Guardian Australia every morning. 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. Cockle Creek Power Station was located in Teralba, New South Wales, Australia on the banks of Cockle Creek. Delta said it complies with the reduced limits for emissions imposed in December 2021 and noted that Vales Point has lower licence limits for NOx than some other generators in NSW such as AGL Energys Bayswater and EnergyAustralias Mt Piper plants. 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. Stop the Sale of Vales Point Power Station and Close It Down, Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean. Two investors have bought one of NSW's largest coal-fired power stations for the price of a nice suburban house. 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. 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. The project was moved to Vales Point Power Station in 2012, after Munmorah closed. The Stop the Sale of Vales Point Power Station and Close It Down petition to Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean was written by Future Sooner and is in the category 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. Australia might face electricity supply shortages - AEMO 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. Strict new operating limits for Vales Point Power Station from 1 January 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. 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. On the international front the Morrison government has committed $70 million to help develop a regional hydrogen export hub, and Australia has signed agreements with Japan, Korea, Germany and Singapore to investigate hydrogen supply chains. Trevor St Baker's plans to keep burning coal at Vales Point beyond 2050 In the context of the confluence of the above factors, Delta will not pursue the Vales Point power station efficiency project. Its members include residents and health professionals. The NSW EPA noted that environment department modelling found that ground-level concentration of NOx in the community meets national health standards. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. Vales Point power station is a major source of NOx on the Central Coast and beyond. Cockle Creek Power Station - Wikipedia 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. Delta Electricity and Mr St Bakers Energy Innovation Fund did not respond to calls for comment. 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. Sign up for our newsletter to stay up to date. The black coal operators run at a much higher short-run marginal cost and so those nearing the end of their technical lives may be re-evaluating their closure dates, Mr Allen said. Currently the sale is under investigation by the Foreign Investment Review Board (FIRB) with its decision to be announced in mid-October 2022. 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. The transaction still needs to be completed, with approval from the Foreign Investment Review Board outstanding. 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. 49 Vales Point Power Station Premium High Res Photos With this acquisition we will significantly strengthen our presence in Australia, said Sev.en chief executive Alan Svoboda. 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. In our view, the risk of accelerating coal generation closures is increasing as the market makes room for the rapid addition of renewable generation.. 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. 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. 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. 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

How To Get A Certificate Of Recovery From Covid, Josh Allen Rookie Year, 145 Glenwood Ave, Portland Maine, Articles V