2019-CREDO-ad-banner-150K.jpg

Sunset Power International

From SourceWatch
Jump to: navigation, search

Sunset Power International (SPI), which trades under the name Delta Electricity, owns the 1320 megawatt Vales Point Power Station in New South Wales.[1]

Background

In an application to an Australian electricity retailing licence SPI stated "In 2014, Mr St. Baker established Sunset Power International Pty Ltd to bid for a new gas-fired power development in Myanmar and to acquire and develop other new power stations nationally and internationally, successfully acquiring Delta Electricity and the Vales Point coal-fired generation business from the NSW Government in 2015."[2]

In November 2015 the then NSW Treasurer Gladys Berejiklian announced that the Vales Point power station had been sold for AUD$1 million to Sunset Power International and and a joint venture between Vales Point Investments and Waratah Energy.[3]

In May 2018 it was reported that Flannery had decided to sell his half share of the Vales Point power station. Under the terms of the ahreholder agreement, Flannery had the first right to Flannery's share but had declined. However, it was expected that under the agreement that St Baker would be consulted about potential new owners. It was reported that Flannery had hired Goldman Sachs, the firm which originally managed the sale process for the NSW Government, to provide advice on the sale and test whether there were potential buyers. Possible buyers, the Australian Financial Review suggested, were Alinta Energy and Apollo Global Management.[4]

Failed bids for other power stations

In November 2016 St Baker said he wanted to buy Hazelwood power station, which Engie had announced planned in March 2017. St Baker told the Australian Financial Review that he had contacted Engie"We have to look at whether or not half of the units could be kept in fairly good service," Mr St Baker said. "How can you close down 25 per cent of the generating capacity in Victoria," he complained.[5] However, Engie proceeded to close the plant.

"Most people are sitting here and watching this debate and saying: 'How can you close down 25 per cent of the generation capability when we know what happens when there is no wind and after hours when the sun is down?' It is a mathematical impossibility," St Baker said.[6]

The Australian Financial Review also reported that St Baker also said that he wanted to buy the Northern Power Station in South Australia open as well and was in discussion with possible customers including BHP's Olympic Dam uranium mine. According to St Baker the plant would be contingent on changes to the rule of the National Electricity Market to include "capacity payments" for baseload power plant owners.[5] The dicussions were unsuccessful and Alinta Energy closed and then demolished the plant.

Delta Electricity was also an unsuccessful bidder for Engie's Loy Yang B power station. During the bidding process St Baker complained that the Foreign Investment Review Board condition that Delta Electricity's Australian ownership must not fall below 56 per cent. He argued that that condition should rule out the other two Chinese-owned bidders Alinta Energy and China Resources.[7] (The plant was ultimately sold to Alinta Energy.)[8]

Lobbyists

According to the Australian Government's Register of Lobbyists, Sunset Power International has hired the SAS Consulting Group as its federal lobbyist. (The lobbying firm also represents the St Baker Energy Innovation Fund.)[9]

According to the New South Wales Government Register of Lobbyists, SAS Consulting Group has represented Sunset Power International with with the NSW Government since July 18, 2017.(Since September 2016 SAS Consulting has also represented ERM Power, a company founded by Trevor St Baker and which he was a Chairman/Deputy Chairman and director of until July 2017.) [10]

Board of Directors

Timeline

Articles and resources

References

  1. "About Us" Delta Electricity, accessed September 2018.
  2. "Sunset Power International Pty Ltd (trading as Delta Electricity) application for electricity retailer authorisation", Australian Energy Regulator, 27 September 2017.
  3. Gladys Berejiklian, Treasurer, Minister for Industrial Relations, "Gentrader deal cleand up: Vales Point and Cobbora", Media Release, November 19, 2015.
  4. Sarah Thompson, Anthony Macdonald and Julie-anne Sprague "Half stake in Vales Point plant to hit the market, Goldman on board", Australian Financial Review, May 16 2018.
  5. 5.0 5.1 Angela Macdonald-Smith and Ben Potter "Engie to sell Loy Yang B, St Baker wants Hazelwood", Australian Financial Review, November 3, 2016.
  6. Ben Potter and Angela Macdonald-Smith, "There's still gold in coal: Trevor St Baker", Australian Financial Review, November 4, 2016.
  7. Angela Macdonald-Smith, "Power entrepreneur Trevor St Baker blasts 'baseload renewables' concept", Australian Financial Review, June 23 2017.
  8. "Coal-fired Loy Yang B power station sold to Alinta Energy's owners Chow Tai Fook Enterprises", ABC News, November 23, 2017.
  9. "Australian Government Register of Lobbyists", Australian Government: Department of Prime Minister and Cabinet, accessed September 2018.
  10. "Australian Government Register of Lobbyists", Australian Government: Department of Prime Minister and Cabinet, accessed September 2018.

Related SourceWatch articles

External resources

External articles

This article is a stub. You can help by expanding it.