AGL has brought the closing date of Loy Yang A, a power plant located in the Latrobe Valley, from 2045 to 2035.
The company is closing the plant as part of the state’s shift towards more renewable energy.
AGL unveiled their Climate Transition Action Plan earlier this morning, which details the company’s plans to halve its emissions by the time the plant will close.
AGL chair Patricia McKenzie said the company’s plan will help keep the lights on in a safe and environmentally-friendly manner.
“AGL is committing to an ambitious but achievable strategy to deliver a responsible and accelerated low carbon future,” she said.
“We are aiming to reshape our energy portfolio into a cleaner and more flexible one, transitioning away from coal and focusing on new renewable and firming capacity.”
The Loy Yang A plant, which powers up to 30 percent of Victoria’s electricity usage, is the single biggest contributor of carbon emissions in the country, according to the Clean Energy Regulator.
In the 2019-20 period, Loy Yang A emitted more than 16 million tonnes of CO2, around three percent of the whole country’s total emissions.
AGL interim CEO Damien Nicks said the plant closure plays a pivotal role in Australia reducing its emissions.
“AGL’s targeted accelerated closure of Loy Yang A power station by the end of FY35 represents a major step forward in Australia’s decarbonisation journey,” he said.
“The targeted earlier closure of Loy Yang A Power Station will avoid up to 200 million tonnes of greenhouse gases being emitted compared to the previous Loy Yang A Power Station closure date.”
AGL’s plans to close the Bayswater plant remains in a 2030-33 timeframe. By 2035, Victoria’s renewable energy storage capacity has a target of 6.3 gigawatts. This would be enough to power about half the homes across the state.
Photo: Industrial Plant by Markus Distelrath available HERE is used under Creative Commons licence. This image has not been modified.