The electricity supplier is known to expect coal power to remain in the energy system for longer than some anticipate to avoid prices spiking.
Alinta Energy is eyeing a bid for Origin Energy’s Eraring coal power generator in a move that could cement the extended operation of the plant beyond its targeted closure date of August 2025.
However, it is expected some in the government will oppose a sale to Alinta, owned by Hong Kong-listed Chow Tai Fook Enterprises, and would prefer to negotiate with Origin if the generator needs to run for longer.The government has yet to start any substantive negotiations with Origin about extending the life of Eraring.having unsuccessfully bid for AGL Energy’s Liddell generator in NSW
Any sale of Eraring is also expected to require the consent of Brookfield, given the inclusion in the sale agreement of conditions that prevent Origin from selling or buying any assets beyond a certain size without the agreement of the bidders.Alinta has about 3000MW of generation capacity, sourced primarily from fossil fuel assets, but is also a major investor in renewable energy, with about $8 billion of projects under development.
Alinta’s interest in Eraring reflects a broader trend among some privately owned suppliers to prepare for an extended operation of coal power plants in Australia given the many hurdles in the path of switching electricity supply to renewables. In July, the new Czech owner of the 1320MW Vales Point coal power plant in NSW, Sev.en Global Investments,and has voiced interest in expanding in coal power generation in Australia.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
It would be reckless to close Eraring and expose NSW to energy shortfallsThe tussle between emissions reduction and reliable, affordable energy is a political tightrope which must be traversed.
Read more »
APA Group to pay $1.8b for Alinta’s Pilbara assets, raise loomsListed gas pipelines owner APA Group has clinched a deal to buy Alinta’s remote power assets in WA’s Pilbara regions, and will ask investors to help bankroll the acquisition.
Read more »
APA faced off against itself in an Alinta Pilbara auction for oneIn the end, APA paid a big price; as Chanticleer reported, the multiples it paid were higher than what its own stock trades at.
Read more »
Exit of Latham beginning of the end for One Nation in NSWThe former state leader’s profile was undoubtedly a boon for One Nation. But without such a figurehead, the party’s days as a political force in NSW are numbered.
Read more »
Convicted criminal freed five months early in NSW court blunderIt is understood the man even tried to tell authorities they had made a mistake. Now a warrant has been issued for his arrest.
Read more »
Environment groups losing faith with NSW government after coal callEnvironment groups once seen as natural allies to Labor are starting to question the NSW government’s commitment on crucial climate and environment policies.
Read more »