PLEA Network

13 December 2017, Renew Economy, AGL says batteries are coming, but coal is uninvestable. AGL says no private investor would invest in new coal plant, but says battery storage is coming and will be major game changer as costs fall – which may not be far away. Several days after formally rejecting federal government requests that it invest hundreds of millions of dollars to keep the ageing and increasingly decrepit Liddell coal generator open, AGL held an “investor day” where it said no private money would support a new coal generator. “We do not believe that any private capital will invest in new coal plants,” CEO Andrew Vesey told the assembled analysts. “Someone may say they want to, but that does not mean they will.” AGL over the weekend unveiled plans to replace Liddell, which include 653MW of wind farms, currently under construction, 300MW of new solar farms, a 250MW gas peaking plant, and small amounts of demand management. AGL over the weekend unveiled plans to replace Liddell, which include 653MW of wind farms, currently under construction, 300MW of new solar farms, a 250MW gas peaking plant, and small amounts of demand management. The later stages of the scheme – depending on what else happens in the market, and the make-up of energy policy – could see another 650MW of wind and solar, 250MW of battery storage, or pumped hydro, and possibly more gas peaking plants and more demand management. The AGL plan made it clear to the government that the cheapest way to provide reliability, and reduce emissions, was to shift from coal to renewables, something the Coalition is finding hard to accept. But Vesey’s comments were unequivocal, and appeared deliberately aimed at the lingering push from many in the conservative arena to build a new coal-fired generator. “The government may say it wants to … but it is becoming an increasingly risky proposition.” Read More here