Antinuclear

Australian news, and some related international items

Australian Liberals seeking Asian investment for new coal-fired power stations

Libs looking to Asia to build new coal-fired power station in north, THE AUSTRALIAN, , 26 Mar 17,  THE TURNBULL GOVERNMENT HAS OPENED TALKS WITH ASIAN INVESTORS TO BUILD A COAL-FIRED POWER STATION BACKED BY ITS $5 BILLION NORTHERN AUSTRALIA FUND……..

Resources Minister Matt Canavan is fast-tracking the plan amid a growing fight with Labor and the Greens over support for coal power, as cabinet ministers prepare to decide how to encourage big investors into the market.

Senator Canavan told The Australian there was a “high ­degree of interest” from Asia helping to develop the new power station in northern Queensland, arguing that finance from the Northern Australia Infrastructure Fund would be needed to give the project long-term certainty…….

As the imminent close of the ageing Hazelwood power station reignites debate about electricity shortages and price spikes, Labor climate change spokesman Mark Butler has declared there is no support from industry to build new coal-fired power stations in Australia.

The Australian Energy ­Council, which represents companies supplying electricity to 10 million homes, warns it has become “very difficult” to finance coal-fired power stations when investors are ramping up wind and solar projects as well as gas generators that provide baseload power with lower greenhouse gas emissions than coal.

But the government is determined to keep the coal proposal on the agenda by raising the prospect of funding from the northern Australia fund, which is also a potential source of support for the controversial coalmine planned for central Queensland by Indian company Adani.

Senator Canavan said there was “no doubt” of the rudimentary economic and commercial case for a coal-fired power station in northern Queensland but that the government’s challenge was to set the energy market rules to offer certainty…..

A Senate inquiry led by a Labor and Greens majority last year argued for an “orderly retirement” of the nation’s coal-fired power stations but the government believes there is strong support in northern Queensland for a new coal project at a time of rising electricity price

Senator Canavan is examining options for a new power station near the Adani coalmine in the Galilee Basin, in Collinsville, to add to an existing power station or in Gladstone near an existing power station and taking advantage of transmission lines that are already in place.

The Resources Minister, who is also the Minister for Northern Australia and oversees the infrastructure fund, rejected suggestions that the help for a coal-fired power station would be a “subsidy” that meddled with the market….

Mr Butler is warning against the use of taxpayer funds for the rail line to the Adani mine or a new power station, claiming the long-term future for coal is one of decline.

“This is something the coal industry needs to deal with. We’ve said as a federal Labor Party we will not support taxpayers’ money going in to support infrastructure or pay for infrastructure around this (Adani) mine,” he said last week.  http://www.theaustralian.com.au/business/mining-energy/libs-looking-to-asia-to-build-new-coalfired-power-station-in-north/news-story/3eb3b84db35f98e8821c146e4091e575

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March 27, 2017 - Posted by | AUSTRALIA - NATIONAL, climate change - global warming, politics

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