Greening Australia seeks 330,000 ha of land for restoration
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Environmental enterprise Greening Australia has partnered with CBRE to increase its national land bank by 330,000 hectares to meet the demand for carbon offsets
Greening Australia plans to acquire the land through a combination of leases, licences and acquisitions to plant up to 500 million native trees to meet corporate demand to achieve net-zero emissions
The organisation said the appetite to invest in environmental offsets including carbon sequestered through large-scale tree plantings, has increased substantially amid corporate demand to achieve zero net emissions targets
Santos targets cross-border CCS project in Timor Sea
May 5, 2021 – 5.15pm
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Santos chief executive Kevin Gallagher has outlined a vision for a cross-border carbon capture and disposal (CCS) project at an ageing gas field in the Timor Sea that could include partners in Europe, Asia and Australia.
Mr Gallagher said the Bayu-Undan field, located in Timor-Leste waters about 500 km north-west of Darwin, is “possibly the best CCS reservoir in Australia”, referring to its ability to take carbon waste from this country.
It could bury up to 10 million tonnes a year of CO2 from gas fields and operations in northern Australia, and represents a “very exciting opportunity,” he told the Macquarie Australia Conference.
Government intervention is complicating renewable energy revolution
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Government intervention in the energy market is making the breakneck transition from fossil fuels to renewables even more challenging as investors warn that taxpayer subsidies for new gas power projects are squeezing out private industry.
The NSW government on Tuesday announced $78 million to support Energy Australia building the first hydrogen-ready gas power plant at its Tallawarra site on Lake Illawarra, with the Morrison government tipping in $5 million.
The Tallawarra B plant will lie next to EnergyAustralia’s existing power station in NSW.
EnergyAustralia commits to carbon-neutral gas plant
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EnergyAustraliaâs decision to build a gas-powered plant in NSWâs Illawarra region has sharpened the focus on the federal governmentâs proposal to build a separate gas plant in the Hunter Valley, which could render Andrew Forrestâs planned Port Kembla generation venture unviable.
The Tallawarra B power station to be built by EnergyAustralia has been in the pipeline for about 10 years and finally got the go-ahead after deals were signed for more than $80 million of government money. It will be the countryâs first carbon-neutral power station, with green hydrogen to be part of the fuel mix, while carbon emissions from gas use will be offset.