![]() The Victorian plant supplies about 30% of the state’s electricity and is the biggest single carbon-polluting plant in the country. Under the targets, Victoria would reach 2.6 gigawatts of renewable energy storage capacity by 2030 and 6.3GW by 2035 – enough to power about half of Victoria’s current homes at their peak energy usage. Sign up to receive an email with the top stories from Guardian Australia every morning “Our interim target is to have up to 5GW of new renewables and firming in place by 2030, funding from a combination of assets on AGL’s balance sheet, offtakes and via partnerships – with battery, wind and solar priority investments at this stage,” she said.Ĭonfirmation of the earlier closure of the 2,210-megawatt Loy Yang A in the Latrobe Valley comes days after the Victorian government announced ambitious plans to bring in more storage to the power system. “We have the ambition to supply up to 12 gigawatts of renewable and firming capacity up to 2036 to meet our customer demand, estimated to require up to a $20bn investment,” Patricia McKenzie, the new AGL chair, said in the statement. The early closure of Loy Yang A could avoid 200m tonnes of carbon dioxide-equivalent emissions, the company said. The company will leave unchanged the plan to shut its Bayswater black coal-fired power station in New South Wales’ Hunter Valley between 20, a statement by AGL to the stock exchange on Thursday showed.ĪGL predicted it will have the largest portfolio of renewable energy and storage of any listed company in the country.
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