DOCSLIB.ORG

Australian Banks Financing Coal and Renewable Energy

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Australian Banks Financing Coal and Renewable Energy Australian banks financing coal and renewable energy A research paper prepared for Greenpeace Australia Pacific Australian banks financing coal and renewable energy A research paper prepared for Greenpeace Australia Final version: 7 September 2010 Jan Willem van Gelder Anna van Ojik Julia Padberg Petra Spaargaren Profundo Radarweg 60 1043 NT Amsterdam The Netherlands Tel: +31-20-8208320 E-mail: [email protected] Website: www.profundo.nl Contents Chapter 1 Methodology ..........................................................................................2 1.1 Objective......................................................................................................2 1.2 Definitions ...................................................................................................2 1.3 Research activities......................................................................................2 Chapter 2 Bank profiles..........................................................................................5 2.1 Australia and New Zealand Banking Group (ANZ)....................................5 2.2 Bendigo Bank..............................................................................................7 2.3 Commonwealth Bank..................................................................................8 2.4 mecu ............................................................................................................9 2.5 National Australia Bank ............................................................................10 2.6 Suncorp .....................................................................................................12 2.7 Westpac .....................................................................................................13 Chapter 3 Coal mining companies ......................................................................16 3.1 Selection of Australian coal mining companies .....................................16 3.2 AGL Energy ...............................................................................................17 3.3 Anglo American.........................................................................................19 3.4 BHP Billiton ...............................................................................................20 3.5 Centennial Coal.........................................................................................22 3.6 CLP Group .................................................................................................24 3.7 Idemitsu Kosan .........................................................................................25 3.8 International Power...................................................................................26 3.9 Itochu Corporation....................................................................................27 3.10 MacArthur Coal .......................................................................................28 3.11 Mitsubishi Corporation ...........................................................................29 3.12 Mitsui & Co ..............................................................................................30 3.13 Noble Group ............................................................................................31 3.14 Peabody Energy ......................................................................................32 3.15 Rio Tinto ..................................................................................................33 3.16 Tarong Energy.........................................................................................34 3.17 TEPCO......................................................................................................35 3.18 Vale ..........................................................................................................35 3.19 Wesfarmers..............................................................................................36 3.20 Whitehaven Coal .....................................................................................37 3.21 Xstrata......................................................................................................38 3.22 Conclusion...............................................................................................40 Chapter 4 Coal-fired power stations....................................................................42 4.1 Overview of coal-fired power plant operators.........................................42 4.2 AGL Energy ...............................................................................................43 4.3 Alinta Energy.............................................................................................45 4.4 CLP Group .................................................................................................47 4.5 InterGen .....................................................................................................48 4.6 International Power...................................................................................49 4.7 New South Wales Government.................................................................50 4.8 Macquarie Generation...............................................................................54 4.9 Delta Electricity .........................................................................................54 4.10 Eraring Energy ........................................................................................56 4.11 Queensland Government........................................................................57 4.12 CS Energy................................................................................................60 4.13 Stanwell Corp ..........................................................................................60 4.14 Tarong Energy.........................................................................................61 4.15 Rio Tinto ..................................................................................................62 4.16 TEPCO......................................................................................................62 4.17 The Griffin Group ....................................................................................63 4.18 Transfield Services .................................................................................65 4.19 Western Australia....................................................................................67 4.20 Verve Energy ...........................................................................................68 4.21 Conclusion...............................................................................................69 Chapter 5 Coal export ports.................................................................................70 5.1 Expansion projects ...................................................................................70 5.2 Abbot Point - BHP Billiton ........................................................................71 5.3 Abbot Point - Hancock Prospecting.........................................................71 5.4 Abbot Point - Waratah Coal ......................................................................71 5.5 Balaclava Island - Xstrata Coal.................................................................72 5.6 Gladstone - WICET Group ........................................................................72 5.7 Hay Point - Babcock & Brown Infrastructure ..........................................73 5.8 Hay Point - BHP Billiton Mitsubishi Alliance...........................................74 5.9 Newcastle - Port Waratah Coal Services .................................................74 5.10 Newcastle - Newcastle Coal Infrastructure Group................................75 5.11 Conclusion...............................................................................................75 Chapter 6 Renewable energy...............................................................................77 6.1 Introduction ...............................................................................................77 6.2 Acciona......................................................................................................78 6.3 AGL Energy ...............................................................................................78 6.4 CSR ............................................................................................................79 6.5 Eraring Energy ..........................................................................................80 6.6 Hydro Tasmania ........................................................................................80 6.7 Infigen ........................................................................................................81 6.8 Infrastructure Capital Group ....................................................................81 6.9 Pacific Hydro .............................................................................................82 6.10 Snowy Hydro ...........................................................................................83 6.11 Tarong Energy.........................................................................................84 6.12 Conclusion...............................................................................................84 Chapter 7 Planned coal-fired power stations .....................................................86 7.1 Introduction ...............................................................................................86
Load more

Recommended publications
  • NSW Infrastructure Capability Assessment: Energy Baseline Report
    NSW Infrastructure Capability Assessment Energy Baseline Report April 2012 This document is intended solely for the use and information of Infrastructure NSW Report Outline • Key Highlights • Introduction • Energy Industry Overview and Current Situation • Electricity • Gas 22 Key Highlights – Electricity • The majority of electricity generation and all transmission and distribution infrastructure assets in NSW are government owned • The NSW government recently privatised the retail electricity sector and announced plans to sell electricity generation assets • 82% (or 16,600MW) of electricity in NSW is generated by 4 key state owned corporations . Electricity is transmitted over a 12,000km transmission system and distributed over ~250,000km distribution system. The book value of this infrastructure is $34bn and the annual capital expenditure is around $4.5bn • Electricity infrastructure is planned through a number of national and operator network plans including the Electricity Statement of Opportunities, the National Transmission Network Development Plan, TransGrid's Annual Transmission Network Development Plan, the distributors Annual Network Development Plans and Performance Reports, and the 5-year Regulatory Proposals and Determinations by the Australian Energy Regulator • These reports provide evidence that, while a number of the state owned electricity distribution assets are beyond or approaching their standard design lives, electricity infrastructure appears to be in good condition and is capable of meeting demand • The performance of electricity generation, transmission and distribution infrastructure is monitored via a number of indicators. The NSW Government sets reliability and security standards through its Network licences. Key electricity operating licence performance indicators such as the average duration and frequency of interruptions have been improving over time • Electricity demand has been flat for the past 5 years partly due to slower economic growth, efficiency and in response to large price increases.
    [Show full text]
  • SVDP NSW Tariff Tracking July13 Update Report
    NSW Energy Prices July 2012 - July 2013 An update report on the NSW Tariff-Tracking Project May Mauseth Johnston August 2013 Disclaimer* The$energy$offers,$tariffs$and$bill$calculations$presented$in$this$report$and$associated$ workbooks$should$be$used$as$a$general$guide$only$and$should$not$be$relied$upon.$ The$ workbooks$ are$ not$ an$ appropriate$ substitute$ for$ obtaining$ an$ offer$ from$ an$ energy$retailer.$$The$information$presented$in$this$report$and$the$workbooks$is$not$ provided$as$financial$advice.$While$we$have$taken$great$care$to$ensure$accuracy$of$ the$information$provided$in$this$report$and$the$workbooks,$they$are$suitable$for$use$ only$as$a$research$and$advocacy$tool.$We$do$not$accept$any$legal$responsibility$for$ errors$or$inaccuracies.$The$St$Vincent$de$Paul$Society$and$Alviss$Consulting$Pty$Ltd$do$ not$accept$liability$for$any$action$taken$based$on$the$information$provided$in$this$ report$or$the$associated$workbooks$or$for$any$loss,$economic$or$otherwise,$suffered$ as$ a$ result$ of$ reliance$ on$ the$ information$ presented.$ If$ you$ would$ like$ to$ obtain$ information$ about$ energy$ offers$ available$ to$ you$ as$ a$ customer,$ go$ to$ Australian$ Energy$ Regulator’s$ “Energy$ Made$ Easy”$ website$ or$ contact$ the$ energy$ retailers$ directly.$ $ $ $ $ New$South$Wales$Energy$Prices$July$2012$–$July$2013$ An$Update$report$on$the$NSW$TariffQTracking$Project$ by$May$Mauseth$Johnston$$$ $ May*Mauseth*Johnston,*August*2013* Alviss*Consulting*Pty*Ltd* ABN$43147408624$ $$ $ $ ©*St*Vincent*de*Paul*Society*and*Alviss*Consulting*Pty*Ltd*
    [Show full text]
  • Eraring Battery Energy Storage System Scoping Report
    Eraring Battery Energy Storage System Scoping Report IS365800_Scoping Report | Final 25 March 2021 Origin Energy Eraring Pty Limited Scoping Report Origin Energy Eraring Pty Limited Scoping Report Eraring Battery Energy Storage System Project No: IS365800 Document Title: Scoping Report Document No.: IS365800_Scoping Report Revision: Final Document Status: For Lodgement Date: 25 March 2021 Client Name: Origin Energy Eraring Pty Limited Project Manager: Thomas Muddle Author: Ada Zeng, Carys Scholefield & Thomas Muddle File Name: IS365800_Origin_ Eraring BESS_Scoping Report_Final Jacobs Group (Australia) Pty Limited ABN 37 001 024 095 Level 4, 12 Stewart Avenue Newcastle West, NSW 2302 PO Box 2147 Dangar, NSW 2309 Australia T +61 2 4979 2600 F +61 2 4979 2666 www.jacobs.com © Copyright 2019 Jacobs Group (Australia) Pty Limited. The concepts and information contained in this document are the property of Jacobs. Use or copying of this document in whole or in part without the written permission of Jacobs constitutes an infringement of copyright. Limitation: This document has been prepared on behalf of, and for the exclusive use of Jacobs’ client, and is subject to, and issued in accordance with, the provisions of the contract between Jacobs and the client. Jacobs accepts no liability or responsibility whatsoever for, or in respect of, any use of, or reliance upon, this document by any third party. Document history and status Revision Date Description Author Checked Reviewed Approved 05 25/3/2021 Final A Zeng C Scholefield T Muddle T Muddle
    [Show full text]
  • Roy Hill Celebrates Historic First Shipment
    10 December 2015 Roy Hill Celebrates Historic First Shipment Hancock Prospecting Pty Ltd and Roy Hill Holdings Pty Ltd are pleased to announce the historic inaugural shipment from Port Hedland of low phosphorous iron ore from the Roy Hill mine on the MV ANANGEL EXPLORER bound for POSCO’s steel mills in South Korea. Mrs Gina Rinehart, Chairman of Hancock and Roy Hill Holdings Pty Ltd, said “The Roy Hill mega project is the culmination of hard-work from the dedicated small executive and technical teams at Hancock and more recently by the entire Roy Hill team.” “Given that the mega Roy Hill Project was a largely greenfield project that carried with it significant risks and considerable cost, it is remarkable that a relatively small company such as Hancock Prospecting has been able to take on and complete a project of this sheer size and complexity.” “The Roy Hill Project has recorded many achievements already and with the first shipment it will also hold one of the fastest construction start-ups of any major greenfield resource project in Australia. This is a considerable achievement, and although the media refer to a contractors date for shipment, it remains that the shipment still occurred ahead of what the partners schedule had planned in the detailed bankable feasibility study.” “The performance on the construction gives great confidence we can achieve performance as a player of international significance in the iron ore industry. To put the scale of the Roy Hill iron ore project into perspective in regard to Australia’s economy, when the mine is operating at its full capacity, Roy Hill will generate export revenue significantly greater than either Australia's lamb and mutton export industry or our annual wine exports.
    [Show full text]
  • Bidder's Statement Hancock Prospecting Pty Ltd Riversdale Res E ' Limited
    HANCOCK PROSPECTING PTY LTD Bidder's Statement containing a Cash Offer by Hancock Prospecting Pty Ltd ACN 008 676 417 through its wholly-owned subsidiary Hancock Corporation Pty Ltd ACN 615 809 7 40 to acquire all of your shares in D7€/0, Aycock_ Riversdale Res e ' Limited cog PO AT1) Fr] LSD ACN 152 669 291 27[/1] for $2.20 per share (which will increase to $2.50 per share if Hancock Corporation's voting power in Riversdale exceeds 50% prior to the end of the Offer Period) subject to the terms and conditions of the Offer. ACCEPT THIS CASH OFFER This is an important document and requires your attention. If you are in any doubt about how to deal with this document, you should contact your broker, financial adviser or legal adviser. Further Information If you have any queries in relation to the Offer, please contact the Offer information line on +618 9429 8222 between 12.00pm and 8.00pm (Sydney time) Monday to Friday. 3446-0556-6732v22 Contents 1 Important information 4 1.1 Key Dates 4 1.2 How to Accept the Offer 4 1.3 Important notice 4 1.4 Further Information 4 1.5 Defined terms 4 1.6 Investment decisions 5 1.7 Disclaimer as to forward looking statements 5 1.8 Notice to foreign Riversdale Shareholders 5 1.9 Information on Riversdale 5 1.10 Privacy 5 1.11 Internet 6 Director's Letter 7 2 Features of the Offer 10 3 Why Riversdale Shareholders should ACCEPT the Offer 12 3.1 Founding Shareholders' Statements of Intent support the Offer 12 3.2 The Offer Price represents a compelling premium to recent issue prices 12 3.3 The Offer provides shareholders
    [Show full text]
  • Imagine Lake Mac
    IMAGINE LAKE MAC OUR PLAN TO 2050 AND BEYONDIMAGINE LAKE MAC 2050 AND BEYOND 1 CITY VISION Bringing our City Vision WE BALANCE to life, Imagine Lake Mac OUR CHERISHED helps us to look ahead ENVIRONMENTS with purpose WITH OUR NEED FOR GREAT SPACES TO Its goal is to fulfil the LIVE AND VISIT, SMART City’s potential TRANSPORT OPTIONS …To be one of the most AND A THRIVING productive, adaptable, ECONOMY; WHICH sustainable and highly ADAPT AND STRIVE TO liveable places in Australia BE FAIR FOR ALL. Acknowledgement Lake Macquarie City Council acknowledges the Awabakal People, the traditional custodians of the land over which this document was prepared. We pay respect to knowledge holders and community members of the land and acknowledge and pay respect to Elders, past, present and future. We would also like to acknowledge staff, Councillors and community members involved in preparing this strategy. 2 IMAGINE LAKE MAC 2050 AND BEYOND IMAGINE LAKE MAC 2050 AND BEYOND 3 Message from the Mayor Message from the CEO I am pleased to present Imagine Lake Lake Macquarie City is a vibrant place to Mac, a long-term strategy that will guide work, live and invest. the evolution of the City. Its natural landscape, particularly the Imagining Lake Macquarie in 2050, I lake and coastline, shape our lifestyle see a dynamic and productive city and and love of the outdoors. The nine a place that enables its community to major centres strategically spread thrive. across the City are focal points for It is a progressive city, well known for its employment, recreation, retail and innovation, investment opportunities, services.
    [Show full text]
  • Ensuring Reliable Electricity Supply in Victoria to 2028: Suggested Policy Changes
    Ensuring reliable electricity supply in Victoria to 2028: suggested policy changes Associate Professor Bruce Mountain and Dr Steven Percy November 2019 All material in this document, except as identified below, is licensed under the Creative Commons Attribution-Non- Commercial 4.0 International Licence. Material not licensed under the Creative Commons licence: • Victoria Energy Policy Centre logo • Victoria University logo • All photographs, graphics and figures. All content not licenced under the Creative Commons licence is all rights reserved. Permission must be sought from the copyright owner to use this material. Disclaimer: The Victoria Energy Policy Centre and Victoria University advise that the information contained in this publication comprises general statements based on scientific research. The reader is advised and needs to be aware that such information may be incomplete or unable to be used in any specific situation. No eliancer or actions must therefore be made on that information without seeking prior expert professional, scientific and technical advice. To the extent permitted by law, the Victoria Energy Policy Centre and Victoria University (including its employees and consultants) exclude all liability to any person for any consequences, including but not limited to all losses, damages, costs, expenses and any other compensation, arising directly or indirectly from using this publication (in part or in whole) and any information or material contained in it. Publisher: Victoria Energy Policy Centre, Victoria University, Melbourne, Australia. ISBN: 978-1-86272-810-3 November 2019 Citation: Mountain, B. R., and Percy, S. (2019). Ensuring reliable electricity supply in Victoria to 2028: suggested policy changes. Victoria Energy Policy Centre, Victoria University, Melbourne, Australia.
    [Show full text]
  • Country Energy’S 3,000 Employees Are the Backbone of Our Business and the Foundation for Our Success
    POWERFUL STUFF Country Energy’s 3,000 employees are the backbone of our business and the foundation for our success. Their knowledge and experience is demonstrated through the strength of our network and the level of customer service we provide. The 2003-2004 Annual Report is testimony to our employees’ commitment to our corporate values – safety, teamwork, fun, accountability, excellence and enthusiasm. Rod Turner, second year apprentice lineworker, Walcha Field Service Centre. OUR ORGANISATION Country Energy is a leading Australian energy services We are a competitive energy retailer in five states and corporation owned by the New South Wales Government, territories, with a product range that includes electricity, with around 3,000 employees and 750,000 customers. natural and bottled gas, internet services and energy advice. We own Australia’s largest power supply network, with 185,000 kilometres of powerlines serving three quarters Country Energy’s commercial success is driven by business of New South Wales – from Bega to Tweed Heads, west decisions that meet local priorities and the needs of our to Bourke and south to the River Murray. customers, employees, stakeholders and shareholders. Country Energy’s retail operations span five states and territories, while our network operations cover country and coastal New South Wales. Far North Coast Region Northern Region North Western Region Mid North Coast Region Central Western Region South Western Region Riverina Region South Eastern Region ii COUNTRY ENERGY ANNUAL REPORT 2003–2004 CONTENTS
    [Show full text]
  • NRG Energy Successful in Bid for Flinders Power in South Australia
    NRG Energy Successful in Bid for Flinders Power in South Australia August 2, 2000 MINNEAPOLIS, Aug 02, 2000 (BUSINESS WIRE)---NRG Energy, Inc. (NYSE:NRG) announced today it has been named the successful bidder in the South Australian Government's electricity privatization auction for Flinders Power, South Australia's final generation company to be privatized. NRG agreed to pay (Aus.) $313 million ($180 million U.S.) cash for a 100-year lease of the Flinders Power assets. Flinders Power includes two power stations totaling 760 megawatts (MW), the Leigh Creek coal mine 175 miles north of the power stations, a dedicated rail line between the two, and Leigh Creek township. The lease agreement also includes managing the long-term fuel supply and power purchase agreement for the 180-MW Osborne Cogeneration Station. NRG expects to close the transaction in early September. "Flinders gives NRG a strong position in the vibrant South Australian power market," said Keith G. Hilless, NRG Asia-Pacific managing director and CEO. The power stations are the 240-MW Playford Power Station and the 520-MW Northern Power Station, both located in Port Augusta on the Spencer Gulf--approximately 190 miles north of South Australia's capital city, Adelaide. The Playford and Northern power stations use pulverized coal-fired steam turbine generation technology. Northern is a baseload facility and is the lowest-cost generator in South Australia, while Playford is a peaking facility. "Flinders Power confirms our long-term commitment to the Australian power generation market," commented David H. Peterson, chairman, president and CEO of NRG. "This project is right in line with NRG's strategy of acquiring assets that complement our core portfolio and represent a variety of dispatch levels." Flinders Power, which NRG will operate, is the only generator in South Australia to own its own fuel source.
    [Show full text]
  • Appendix D: Principal Power Stations in Australia
    D Appendix D––Principal power stations in Australia 1.1 See table on next page 142 BETWEEN A ROCK AND A HARD PLACE Principal Power Stations in Australia State Name Operator Plant Type Primary Fuel Year of Capacity Commissioning (MW) NSW Eraring Eraring Energy Steam Black coal 1982-84 2,640.0 NSW Bayswater Macquarie Generation Steam Black coal 1982-84 2,640.0 NSW Liddell Macquarie Generation Gas turbines Oil products 1988 50.0 Macquarie Generation Steam Black coal 1971-73 2,000.0 NSW Vales Point B Delta Electricity Steam Black coal 1978 1,320.0 NSW Mt Piper Delta Electricity Steam Black coal 1992-93 1,320.0 NSW Wallerawang C Delta Electricity Steam Black coal 1976-80 1,000.0 NSW Munmorah Delta Electricity Steam Black coal 1969 600.0 NSW Shoalhaven Eraring Energy Pump storage Water 1977 240.0 NSW Smithfield Sithe Energies Combined cycle Natural gas 1997 160.0 NSW Redbank National Power Steam Black coal 2001 150.0 NSW Blowering Snowy Hydro Hydro Water 1969 80.0 APPENDIX D––PRINCIPAL POWER STATIONS IN AUSTRALIA 143 NSW Hume NSW Eraring Energy Hydro Water 1957 29.0 NSW Tumut 1 Snowy Hydro Hydro Water 1973 1,500.0 NSW Murray 1 Snowy Hydro Hydro Water 1967 950.0 NSW Murray 2 Snowy Hydro Hydro Water 1969 550.0 NSW Tumut 2 Snowy Hydro Hydro Water 1959 329.6 NSW Tumut 3 Snowy Hydro Hydro Water 1962 286.4 NSW Guthega Snowy Hydro Hydro Water 1955 60.0 VIC Loy Yang A Loy Yang Power Steam Brown coal 1984-87 2,120.0 VIC Hazelwood Hazelwood Power Steam Brown coal 1964-71 1,600.0 Partnership VIC Yallourn W TRU Energy Steam Brown coal 1973-75 1,480.0 1981-82
    [Show full text]
  • GRIFFIN ELECTRICITY PTY LTD Collie B Power Station
    GRIFFIN ELECTRICITY PTY LTD Collie B Power Station (Collie B) Proponent’s Response to Submissions April 2005 Table of Contents 1 SUMMARY OF SUBMISSIONS RECEIVED........................................................ 1 2 NOISE................................................................................................................... 3 3 SURFACE WATER AND GROUNDWATER ....................................................... 7 4 FLORA AND FAUNA ......................................................................................... 12 5 ATMOSPHERIC EMISSIONS ............................................................................ 13 6 GREENHOUSE ISSUES .................................................................................... 29 7 LIQUID AND SOLID WASTE DISPOSAL.......................................................... 38 8 SOCIAL AND HERITAGE ISSUES.................................................................... 51 9 OTHER ISSUES ................................................................................................. 52 10 GLOSSARY........................................................................................................ 56 11 BIBLIOGRAPHY ................................................................................................ 59 Collie B Power Station – Responses to Issues raised in Submissions Page i List of Tables Table 1 – Summary of Noise Levels ...................................................................................3 Table 2 - Collie Power Station Sound Power Level............................................................4
    [Show full text]
  • Statement of Corporate Intent 2011/2012 for Parliamentary Tabling
    Statement of Corporate Intent 2011/2012 For Parliamentary tabling Prepared by the Directors and Management of CS Energy Ltd (ABN 54 078 848 745) for shareholding Ministers: Rachel Nolan MP Minister for Finance, Natural Resources and The Arts and Stephen Robertson MP Minister for Energy and Water Utilities This document contains highly confidential material relating to the business affairs of CS Energy Limited. The Right to Information Act 2009 only applies to CS Energy Limited in respect to its community services obligations. Any unauthorised disclosure of material contained in this statement may diminish the commercial value of that information and would have an adverse effect on the business, commercial and financial affairs of CS Energy Limited. Contents 1 Scope/policy position ................................................................................................ 2 1.1 Main undertakings.............................................................................................................................. 2 1.2 Corporate and operational objectives ............................................................................................. 3 1.3 Corporate and operational strategies .............................................................................................. 3 1.4 Corporate and operational performance outcomes ....................................................................... 4 1.5 Performance drivers .........................................................................................................................
    [Show full text]