Power April 2022 Intl - 9

GLOBAL MONITOR
addition, Australia must take the time to
convert its economy away from coal mining.
That is harder to accomplish and the
country has less control over the rate at
which this will happen. "
AGL, founded in 1837 and Australia's
largest electric utility, on Feb. 10 said it
would accelerate the timetable to close
its two largest coal-fired power plants.
The company already plans to close its
2,000-MW Liddell plant in the Hunter
Valley in New South Wales (NSW) in
April 2023, and said the 2,640-MW
Bayswater plant in NSW will close
between 2030 and 2033, rather than
in 2035 as previously scheduled. The
2,210-MW Loy Yang A power station in
Victoria will be retired by 2045, at least
three years earlier than previously expected.
Graeme Hunt, CEO of AGL, at
an investors meeting said, " The path
to net zero [emissions] will be the defining
challenge of our era. Companies
that don't adapt, that don't innovate,
and don't set themselves on this path
will be left behind. "
AGL already plans to split its power
generating business by June 30, with
Accel Energy serving as the electricity
producer, and AGL Australia acting as
2. The Anglesea Mine in Australia operated for 50 years, serving Alcoa of Australia. The mine
closed in 2015 and is undergoing rehabilitation. A project to turn the site into an eco-tourism
location, including an immersive educational center, is ongoing, part of the government's plan
to provide economic support to areas dependent on coal mining. Courtesy: Creative Commons
/ John Englart
the power retailer. AGL recently rejected
a multibillion-dollar takeover bid from
Brookfield Asset Management Inc. and
Mike Cannon-Brookes, a technology billionaire;
Brookfield and Cannon-Brookes
had said they would move to close AGL's
coal-fired plants more quickly if they
were leading the utility. The consortium
in a statement in late February said they
were still " optimistic that an agreement
can be reached. "
Cannon-Brookes, co-founder of software
developer Atlassian Corp. and
ranked as Australia's fourth-richest person,
said of a takeover: " If successful,
this will be one of the biggest decarbonization
projects in the world. This
proposal will mean cheaper, cleaner, and
more reliable energy for customers. " The
consortium has said they would develop
at least 8 GW of renewable energy projects
to replace 7 GW of AGL's coal-fired
April 2022 | POWER
www.powermag.com
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Power April 2022 Intl

Table of Contents for the Digital Edition of Power April 2022 Intl

Power April 2022 Intl - Intro
Power April 2022 Intl - Cover1
Power April 2022 Intl - Cover2
Power April 2022 Intl - 1
Power April 2022 Intl - 2
Power April 2022 Intl - 3
Power April 2022 Intl - 4
Power April 2022 Intl - 5
Power April 2022 Intl - 6
Power April 2022 Intl - 7
Power April 2022 Intl - 8
Power April 2022 Intl - 9
Power April 2022 Intl - 10
Power April 2022 Intl - 11
Power April 2022 Intl - 12
Power April 2022 Intl - 13
Power April 2022 Intl - 14
Power April 2022 Intl - 15
Power April 2022 Intl - 16
Power April 2022 Intl - 17
Power April 2022 Intl - 18
Power April 2022 Intl - 19
Power April 2022 Intl - 20
Power April 2022 Intl - 21
Power April 2022 Intl - 22
Power April 2022 Intl - 23
Power April 2022 Intl - 24
Power April 2022 Intl - 25
Power April 2022 Intl - 26
Power April 2022 Intl - 27
Power April 2022 Intl - 28
Power April 2022 Intl - 29
Power April 2022 Intl - 30
Power April 2022 Intl - 31
Power April 2022 Intl - 32
Power April 2022 Intl - 33
Power April 2022 Intl - 34
Power April 2022 Intl - 35
Power April 2022 Intl - 36
Power April 2022 Intl - 37
Power April 2022 Intl - 38
Power April 2022 Intl - 39
Power April 2022 Intl - 40
Power April 2022 Intl - Cover3
Power April 2022 Intl - Cover4
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https://www.nxtbook.com/accessintelligence/POWER/power-october-2021
https://www.nxtbook.com/accessintelligence/POWER/power-september-2021
https://www.nxtbook.com/accessintelligence/POWER/power-august-2021
https://www.nxtbook.com/accessintelligence/POWER/power-july-2021
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https://www.nxtbook.com/accessintelligence/POWER/power-december-2020
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https://www.nxtbook.com/accessintelligence/POWER/power-december-2018
https://www.nxtbook.com/accessintelligence/POWER/power-november-2018
https://www.nxtbook.com/accessintelligence/POWER/power-october-2018
https://www.nxtbook.com/accessintelligence/POWER/power-september-2018
https://www.nxtbook.com/accessintelligence/POWER/power-august-2018
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