12-17-2020, 08:36 AM
The value of Australia’s newest coal-fired power station, Bluewaters in WA, has been written down to zero, wiping out a $1.2B investment after just ten years.
Simon Nicholas, an energy finance analyst at IEEFA, says;
"In Australia, the cost of utility-scale renewables is often lower than the cost of fuel for coal-fired power plants.
So, the long-term future for coal-fired power plants is looking fairly grim and banks are responding to that — they don't want to finance coal anymore."
And the self-proclaimed champions of the free market are clamouring for more coal-fired power stations :
Simon Nicholas, an energy finance analyst at IEEFA, says;
"In Australia, the cost of utility-scale renewables is often lower than the cost of fuel for coal-fired power plants.
So, the long-term future for coal-fired power plants is looking fairly grim and banks are responding to that — they don't want to finance coal anymore."
And the self-proclaimed champions of the free market are clamouring for more coal-fired power stations :
“Why don’t you knock it off with them negative waves? Why don’t you dig how beautiful it is out here? Why don’t you say something righteous and hopeful for a change?” Oddball