. 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. Vales Point Power Station - Wikipedia 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. 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. Sign up to Guardian Australia's Morning Mail, Our Australian morning briefing email breaks down the key national and international stories of the day and why they matter. The coal for Vales Point is delivered by conveyor and a balloon loop connection to the Main Northern railway line between Wyee and Morisset. 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. But it also represents a significant expansion of Sev.en in Australias coal power sector beyond its interest in Queenslands InterGen, with the suggestion that further investments in the domestic energy sector may be on the cards. 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. 49 Vales Point Power Station Premium High Res Photos 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 Whoever owns these assets, I want to make sure they are acting in the interests of the citizens of this state, not for vested interests, he said. This means that every time you visit this website you will need to enable or disable cookies again. 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. The black coal burned at Vales Point is more expensive than Yallourns brown coal, Mr Everett said, but Vales Point could be run with more flexibility to quickly ramp output up or down to better match demand limit production costs. 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. 4 was brought into use in 1966. This site uses "cookies" to give you the best experience on this website. 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. Vales Point 'A' Station was decommissioned in 1989. [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]. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW. This will benefit customers, employees and system security for all energyusers.. 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. 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. 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. To disable your cookies, please click on Settings. Its a two years exemption, then we can apply for another period of time. Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights. Access unlimited content, the digital versions of our print editions - Today's Paper, as well as the Newcastle Herald app. Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity. While the Chinese government has signalled it will restrict coal lending, the country has yet to formally limit its investment in coal plants, the IEEFA report said. 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. The power stationed operated from 11 March 1927 until March 1976. These fossil fuel power stations burn coal to power steam turbines that generate some or all of the electricity they produce. By 2050, green hydrogen has the potential to drive $350 billion in investment across Australia in current dollars and up to $26 billion per year in additional GDP, supporting the emergence of new decarbonised industries such as green steel and ammonia.. 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. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. Level 7 This field is for validation purposes and should be left unchanged. 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. Vales Point power station - Global Energy Monitor Its also unknown how the sale will impact the rehabilitation responsibilities for the power station ash dumps, she said. 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. 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. 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. 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. Two years on from the sale, the facility was valued at $722M. Environment groups question whether ageing stations exemptions from some pollution standards are valid. It listed Eraring, Vales Point and Mt Piper in NSW and Yallourn in Victoria as most vulnerable. 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. [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]. The transaction still needs to be completed, with approval from the Foreign Investment Review Board outstanding. 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. 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. 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. Billionaire Trevor St Baker will reignite plans for a 20-year extension of NSW's Vales Point coal power station amid fears the early closure of Origin Energy's giant Eraring plant may lead to market volatility and higher prices. 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. When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. We will not spam you or sell your details. Andy Saunders 1 year ago John John 1 year ago Andy Saunders 1 year ago 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. Munmorah power station - Global Energy Monitor NOx emissions can harm peoples health, contribute to respiratory illnesses and can cause asthma in children and the elderly. [citation needed], In November 2015, the Government of New South Wales sold Delta Electricity, which at that time owned only the Vales Point Power Station, to Sunset Power International for $1 million. Unit no. We know that the emissions meet the National Environment Protection Measures for NOx, but weve got the environment groups position. 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. St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. We care about the protection of your data. The REZ will not only attract investment in clean energy, it will also underpin the growth of new low-carbon industries such as green hydrogen, ammonia and metals production which the world is going to need as it decarbonises, Mr Crouch said. 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. Hoping that this means by 2029 transporting and storage of toxic coal dust via the eyesore transport chanel located over Rutleys road will cease and be dismantled ? Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. 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 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. Find them all here. This page was last edited on 30 April 2021, at 11:25. 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. The operator applied for an exemption granted in December 2021 with a reduction variation and additional conditions imposed by the NSW Environment Protection Agency. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. We do not want this in foreign hands. If you disable this cookie, we will not be able to save your preferences. That, environment groups say, has given new urgency for the NSW Environment Protection Authority to clarify the legality of a pollution exemption provided to the plant late last year. 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. 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. Sydney, NSW 2000 Vales Point Power Station sale completed Delta has been contacted for further comment. There are three methods to extract hydrogen. Recent state government announcements in Queensland and Victoria look to cut coal generation out of the energy mix as soon as possible. The Cockle Creek power station was built by Caledonian Collieries Limited between 1925 and 1927 to use low grade coal to provide power to Caledonian Collieries mines and the surrounding townships in both the . Delta Electricity turns down $8.7 million grant for Vales Point Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. 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. Delta Electricity knocked back in February a $9 million government grant to upgrade one of the plants turbines. The owner blamed the COVID-19 pandemic for reducing demand and an influx of cheaper renewables reducing wholesale electricity prices. Future Sooner is a community action group working towards a clean energy future for the Central Coast and Lake Macquarie. 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. 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. (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. The NSW EPA noted that environment department modelling found that ground-level concentration of NOx in the community meets national health standards. In our view, the risk of accelerating coal generation closures is increasing as the market makes room for the rapid addition of renewable generation.. The role of Deltas Vales Point power station in two devastating fish kills that took place in mid-2002 in Wyee Bay are currently under investigation by the NSW EPA. Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSW's energy. 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. AGL Energy announced it would move the. The NSW Government has responded to the closure of Eraring by saying that to ensure energy reliability, it will work with industry partners to install the Waratah Super Battery, a 700MW/1400MWh grid battery, by 2025 to release grid capacity so Sydney, Newcastle and Wollongong consumers can access more energy from existing electricity generation.. "Hundreds of thousands of people living near Australia's largest power station do not know what they are breathing," the report states. Before joining RenewEconomy, Michael worked in climate and energy policy for more than a decade. For fossil fuel production to be clean carbon capture has to be tacked on to capture the emissions. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. In a statement Mr St Baker highlighted the buyers commitment to growing the business. Wikimedia. 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. NSW government sells Vales Point power station for $1m DPE is currently assessing an application by Delta to consolidate and expand its Chain Valley and Mannering collieries. The big energy companies are also feeling the pressure from the Morrison government over the proposed closure dates for older coal-fired power stations. [1], In March 2019 Prime Minister Scott Morrison announced that Delta Electricity's proposal had been shortlisted but provided no details.[2]. Energy Australia to close Yallourn power station early and build 350 The announcement today by Original doesnt change Vales Points position, said the spokesperson. 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? @ Copyright RenewEconomy 2020. They would be Australias first high-efficiency, low emissions stations, Mr St Baker said. Vales Point provides 11% of NSW electricity. 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 power station was sold by the NSW government in 2015 for just $1 million. Strict new operating limits for Vales Point Power Station from 1 January 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. 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. Coal is carbon. 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. Brisbane-based energy consultant Trevor St Baker and coal baron Brian Flannery. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. In its home market, it runs two coal power generators and two combined heat and power plants. Victoria's potential crunch comes with the 2028-29 closure of the Yallourn power plant in the. The Lake Macquarie community and the Lake itself has long suffered as a result of pollution from the Vales Point power station. Michael Mazengarb is a Sydney-based reporter with RenewEconomy,writing on climate change, clean energy, electric vehicles and politics. 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. Coal supplies NSW with an average of 63 percent of its energy requirements, while the National Energy Market average is 59 percent. On this Wikipedia the language links are at the top of the page across from the article title. In December last year, Vales Point was issued with an order to limit its emissions of nitrogen oxide. The expectation has been that the power station would close in 2029 and the clean-up could begin., Vales Point on southern Lake Macquarie stayed in government hands until 2015, when the Coalition state government controversially sold it to energy entrepreneurs Trevor St Baker and Brian Flannery for $1 million., 167 Parry Street,Hamilton East, NSW, 2303, AboutCampaigningResearch & ReportsSubmissionsVolunteerHCEC NewsMedia ReleasesEventsContact UsCommittee Records, Barrington - Hawkesbury Climate Corridors Alliance, Water pollution Datawatch: NSW power stations. . "We predict that gas power station output will fall by 78 per cent and coal output . 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. Anger as public funds extend life of dirty Vales Point power station The Nature Conservation Council of NSW said that, unlike previous exemptions, this one cannot be extended beyond October 2027. Read our Privacy Policy. 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. Vales Point power station is a major source of NOx on the Central Coast and beyond. Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. It is also gearing up to invest more in the business as it seeks approval for a license to allow mining to continue until 2029. 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. 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. Its members include residents and health professionals. 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. Health at GoPetition. The combined capacity of 2195 MW made Vales Point the largest power station in Australia at the time. Carbon Monitoring for Action estimates that Vales Point emits 9.32 million tonnes of greenhouse gases per year from burning coal. Strict new operating limits for Vales Point Power Station from 1 January. Mr St Baker would not reveal the price of the deal, but said we didnt get close to $700 million. The deal comes amid an extended period of turbulence in baseload power generation in the National Electricity Market as cheap renewable energy flowing on to the grid makes it harder to operate baseload coal plants profitably, even amid surging prices for wholesale electricity. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. The man who bought Vales Point power station from the NSW Government 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. 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. It is also harmful to the environment. 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. Early closure of Australia's largest coal-fired plant could create 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. 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. In 1978, two Toshiba 660 MW units were added, becoming "B" Station. 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%). Future: Part of the Vales Point power station on the Central Coast. Goldman Sachs said Vales Point, backed by energy mogul Trevor St Baker, was facing closure potential. Delta also blamed ongoing regulatory and policy uncertainty, which it said, does not represent an appropriate investment environment.. Cockle Creek Power Station was located in Teralba, New South Wales, Australia on the banks of Cockle Creek. 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. Transitioning the Hunter and Central Coast from a fossil fuels manufacturing base to one of renewable generation is underway. Follow the topics, people and companies that matter to you. If the sale goes through, it will continue to pollute long past its slated 2029 closure date. 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