AGL rejects Alinta offer for Liddell power station

AGL has knocked back Alinta’s $250 million offer to buy the Liddell coal-fired power station, committing to its plan to shut down the power station in 2022.

The Liddell power station in the Hunter Valley.

AGL said the offer was not in the best interests of either the company or its shareholders.

“The offer significantly undervalues future cash flows to AGL of operating Liddell power station until 2022 and the repurposing of the site thereafter,” AGL said.

Read Cole Latimer’s story from The Age - “AGL rejects Alinta offer for Liddell power station.”

Coal plant construction extends dive - but not fast enough: report

Coal-fired power is on track to start shrinking globally by 2022, dimming prospects for exporters of the fossil fuel, including Australia, according to a report by environmental groups.

On current trends, coal plant capacity worldwide could peak by 2022.

China and India, which have dominated construction of new power plants for more than a decade, both cut new capacity sharply for the second year in a row in 2017, the annual Boom and Bust report by Greenpeace, Sierra Club and CoalSwarm found.

Read Peter Hannam’s story from The Age - “Coal plant construction extends dive - but not fast enough: report.”