Tag: exit coal

Energy Australia to build 350 MW battery to replace its coal plant

Energy Australia has announced that it will close the Yallourn power station in Victoria’s Latrobe Valley in mid-2028, four years ahead of schedule, and build a 350 MW battery instead. The 1,480 MW brown coal-fired plant currently produces about 22 per cent of Victoria’s electricity and is the oldest power station in the state. With the shutting down of the Yallourn power station reduce, Energy Australia’s carbon dioxide emissions are expected to fall by over 60 per cent.

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From Zero To 50: Global Finance is Fleeing Oil and Gas

IEEFA has tracked 50 significant global financial institutions to date that have announced oil and gas investment restrictions, specifically on oil sands exploration and/or Arctic drilling. While 39 have declared a formal policy against oil sands and 37 on Arctic drilling, 26 financial institutions have restricted both. Most are an extension of existing policies restricting thermal coal power and coal mining lending.

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