ENQUIRE HERE
 
< Back to News Archive

 
posted on:
April
18
2015

AGL turns its back on coal-fired power

 

Source: The Australian, 18 April 2015


AGL Energy plans to focus investment on renewable and low-emission generation technologies, signalling a turn away from coal after spending $2 billion on coal-fired power stations in NSW and Victoria in recent years.


Opening Australia's first industrial-scale solar plant at Nyngan in central NSW yesterday, new AGL Energy chief executive Andy Vesey announced an about-face in which the company will close all existing coal-fired power stations by 2050.


It will also not build or finance any new conventional coal-fired plants in Australia or extend the life of existing plants.


Instead, AGL plans to invest in renewable and near-zero emissions technologies and focus on distributed renewable energy, battery storage and demand management such as smart meters.


It will also include a forecast for future carbon pricing into all decisions about capital expenditure on generation, despite the government abolishing the carbon tax last year.


Read More HERE