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Stanwell Corporation has formally announced it will move from fossil fuels to renewables in what will be a game-changer for the power industry in the country.
Touted as Australia’s third-largest greenhouse gas emitter and Queensland largest power generator, the news has been praised by conservation and environmental councils.
The Queensland Government-owned corporation operates three coal plants including Tarong, Tarong North and Stanwell just west of Rockhampton.
In a statement released ahead of the future energy summit in Gladstone on Wednesday, Stanwell CEO Richard Van Breda said the corporation must shift its focus towards new energy technologies.
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He said Stanwell wanted to take early steps to bring governments, unions, workers and communities together to plan for the transition and to assist workers into retraining, redeployment or retirement.
âAustralia is undergoing a major energy transition and itâs happening at a rapid pace,â Van Breda said.
âThe energy market is shifting from fossil fuel generation to renewable energy and storage.
âOver the coming years, Stanwell will respond to the renewable energy needs of our large commercial and industrial customers through new low- or zero-emission generation technologies. We will also strive to play a central role in the emerging green hydrogen industry.
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