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. 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. The turbines were removed in 1997; the boilers and buildings were demolished between 201114. Two years on from the sale, the facility was valued at $722M. On this Wikipedia the language links are at the top of the page across from the article title. 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. 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. 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. 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. 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? The big energy companies are also feeling the pressure from the Morrison government over the proposed closure dates for older coal-fired power stations. NOx emissions can harm peoples health, contribute to respiratory illnesses and can cause asthma in children and the elderly. 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. Cooking with gas: How bad for your health is it, really? There are three methods to extract hydrogen. 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. 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. 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. and Evie Networks, among other energy interests. 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.. Unit no. 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. 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. We already have really low NOx emissions, lower than Bayswater and Mt Piper, and we are doing operational changes, and we believe that we will meet whatever the requirements are going to be.. A failure to act is no longer an option, Mr Chappel 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. 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. 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. It listed Eraring, Vales Point and Mt Piper in NSW and Yallourn in Victoria as most vulnerable. 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. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW. 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. Level 7 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 power stationed operated from 11 March 1927 until March 1976. All rights reserved. Vales Point 'A' Station was decommissioned in 1989. 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. We do not want this in foreign hands. 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. 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 proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. Follow us on LinkedIn, Facebook or Instagram. . 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. EnergyAustralia announced on Wednesday its Yallourn coal plant would close in 2028, four years ahead of the previous deadline. 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. 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 announcement today by Original doesnt change Vales Points position, said the spokesperson. Mannering Park Progress Association spokesperson Sue Wynn said a new coal-fired power station at Vales Point was the worst news Mannering Park and surrounding areas could possibly hear. 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. 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. On this basis, Delta respectfully and regrettably advises that it will not submit an application for UNGI grant for the proposed Vales Point power station efficiency upgrade project, Delta Electricity said. "Hundreds of thousands of people living near Australia's largest power station do not know what they are breathing," the report states. 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. 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. Custom Content. [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 project was moved to Vales Point Power Station in 2012, after Munmorah closed. 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. September 2022 Delta Electricity agreed to sell to Czech company, Sev.en Global Investments. We care about the protection of your data. The Morrison governments low emissions investment road map is technology neutral which meanspublic funding is availableto green and blue hydrogen. 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. Every time an old coal-fired power stations closes to be replaced by renewable energy, theres an immediate health benefit to communities within 100 kilometres of the facility, Dr Ewald said. Were sorry, this feature is currently unavailable. 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. 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. AGL, rival Origin Energy and EnergyAustralia have all brought forward the dates for closure of coal-fired power stations since the start of 2021, triggering suggestions that some other coal generators may need to keep running for longer to keep electricity supply secure amid the rise of weather-dependent wind and solar power. The Nature Conservation Council of NSW said that, unlike previous exemptions, this one cannot be extended beyond October 2027. Key points: Energy Australia will build a 350 megawatt, utility-scale battery in the Latrobe Valley by the end of 2026 The giant coal-fired Yallourn plant has been operating for 47 years 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 receive an email with the top stories from Guardian Australia every morning. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. Origin Energys 2000 MW Liddell plant will close in early 2023. 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. 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. Environment Justice Australia and the Nature Conservation Council have questioned whether the renewal of a licence granting the plant operators exemptions from some pollution standards for nitrogen oxide is valid because, they say, Delta applied for the renewal after the deadline. While Delta secretary Steve Gurney said the sale of Vales Point was a completely unrelated commercial matter to the emissions issue, Nature Conservation Council chief executive, Jacqui Mumford, said the new owners should be required to slash the stations pollution so that people across NSW can breathe healthier air. 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