Energy giant Stanwell’s announcement today that it will move away from coal sends a clear message to AGL, Australia’s biggest coal company, that the future is renewable, says Greenpeace Australia Pacific.
Stanwell is Australia’s third biggest producer of greenhouse gas emissions and operates two of Queensland’s biggest coal-burning power stations. Its intention to refocus on new energy technologies like wind and solar should put AGL on notice, according to Greenpeace Australia Pacific senior campaigner Glenn Walker.
“Stanwell, one of Australia’s biggest coal companies, has seen the writing on the wall, and it spells renewable energy – now it is time for AGL to follow its lead,” he said.
“As even the leaders of coal companies acknowledge, the market is shifting at lightning speed towards renewable energy, and AGL’s lumbering old coal generators, like Loy Yang A and Bayswater power station, simply aren’t fit for the modern grid.”
“Stanwell, like other Queensland energy producers, knows that there is huge opportunity to be found in getting on the front foot and leading Australia’s energy transition. But AGL doesn’t seem to have gotten the message, clinging to its fleet of ageing, unreliable coal-burning power stations and retaining its dubious title as Australia’s biggest climate polluter.”
AGL, at a recent investor day, announced that it would demerge its business, shunting coal-burning assets into a separate entity – but still with no plans to bring forward their retirement, despite increasing pressure from investors and customers.