Stanwell announces shift to renewables

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Stanwell Corporation has revealed its plans to work together with its people, communities, unions and government as it commences its transition to a renewable energy future.

At the Central Queensland Energy Futures Summit in Gladstone on Wednesday, Stanwell’s chief executive officer, Richard Van Breda, revealed the company’s plans to shift towards renewable energy and storage in the coming years.

“Australia is undergoing a major energy transition and it’s happening at a rapid pace,” Mr Van Breda said.

“Over the coming years, Stanwell will respond to the renewable energy needs of our large commercial and industrial customers through the introduction of 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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Stanwell says it recognises that over time the changes it has to make to its business, in order to remain relevant to its customers, would affect the futures of its people and its asset communities.

“We are taking early steps to bring our people, communities, unions and government together to put plans in place. These plans will help ensure that as we eventually retire our coal-fired assets from service, our people have choices in relation to retraining, redeployment and – where it is their preference – retirement,” he said.

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“The plans our host communities develop in partnership with government, local councils, industry and advocacy groups will ensure the long-term economic resilience of their regions. While the communities themselves must own these plans, we will engage with them throughout the planning process, playing a supporting role and sharing our future plans.

“Our Tarong and Stanwell power stations will continue to play an important role as Stanwell’s portfolio transforms. We will operate our coal-fired power stations much more flexibly, in response to market requirements. This may include seasonal storage of our generating units, or placing units into standby mode so they can be quickly returned if the market needs them.”

The CQ Energy Futures Summit provides Stanwell a valuable opportunity to join key stakeholders in the energy market transition and explore how we can work together to create a positive future for the region.