Victorian government’s renewable targets show AGL falls behind the winds of change

SYDNEY, March 4 2022 - The Victoria Government’s announcement of ambitious new offshore wind targets is yet further evidence that AGL’s flimsy excuses for the continued operation of dirty coal-burning power stations, including Loy Yang A, are falling apart, Greenpeace Australia Pacific says.

The announcement, which looks to develop 2GW of offshore wind by 2032, 4GW by 2035 and 9GW by 2040, more than offsetting the exit of coal from the system, is the latest in a series of large-scale commitments by state governments investing in renewable energy solutions to accelerate the transition away from fossil fuels.

Hannah McLeay, Campaigner at Greenpeace Australia Pacific, said the announcement was yet another indictment of AGL’s evidence-free approach to burning coal.

“AGL, Australia’s biggest climate polluter, has consistently failed to read the market and the pace of the energy transition, choosing to double down on its coal-burning assets.

“The winds of change are here and the energy market is shifting at lightning speed away from coal. Rather than acknowledge this shift, as others have done, AGL continues their obsession with coal, regardless of the negative impact this approach has on the environment, their shareholders, and their customers.

“AGL’s leadership have had their heads wedged firmly in the sand for far too long. They claim that the operation of Loy Yang A well past the 2030 deadline needed to avoid the most devastating impacts of climate change is necessary. But this is clearly out of step with the reality of the market. 

“This commitment by the Victorian Government is further evidence that Loy Yang A will be rendered redundant well before its planned closure in 2045 as the transition to clean and reliable renewable energy accelerates.

“The answer for AGL is simple — stop hiding your environmental and financial failure behind a dodgy demerger and commit to closing dirty coal-burning power stations by 2030.”

ENDS

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