none

AUSSIE COAL INVESTMENTS UNDERMINED BY SOLAR

06-04-2016
by 
in 

Despite the Queensland Labor government’s approval of plans to build Australia’s biggest coal mine in the Galilee Basin, long-term prospects for the project do not appear promising.

Economists and environmentalists have spoken out against the viability of the thermal plant’s plans, and Adani Group, the developer behind the proposal, even appears to be shifting their focus to solar.  

Economist Dr Richard of the Australia Institute said, “there is no way this project will create an additional 10,000 jobs or even an additional 5,000 jobs for the Queensland economy. Adani has conceded that in court.”

Since the development was proposed the price of thermal coal has fallen by 70%, calling into question the venture’s profitability.

Despite promises of nearly 200 strict environmental preservation conditions, and a pledge that no dredge spoil will be dumped on the Great Barrier Reef, environmentalists still have concerns.

“Protecting the reef and approving the Carmichael mining lease are diametrically opposed: you cannot do both,” said Shani Tager, spokeswoman for Greenpeace Australia Pacific.

Adani Group themselves have not finalized their commitment to the project, and continue to look at potential solar development in Queensland and South Australia. 

Related news & editorials

  1. 15.11.2018
    15.11.2018
    by      In
    It’s less than a year since Lapp Australia started trading, but the company has swiftly established itself in the local market, with significant penetration in sectors such as food and beverage, manufacturing, solar, sound and stage production, electrical contracting, machine building and... Read More
  2. 12.11.2018
    12.11.2018
    by      In
    Energy Vault has developed a novel solution to storage for renewable energy plants that involves neither batteries nor water.
    The Energy Vault system is based on the fundamental physics of potential and kinetic energy, and uses a proprietary, cloud-based software platform to operate a newly... Read More
  3. 07.11.2018
    07.11.2018
    by      In
    With a combination of its industry-leading fans and energy-efficient lighting products, Big Ass is improving working conditions in Australia and around the globe.
    Blazing Queensland temperatures and humidity were creating uncomfortable working conditions at XL Service Bodies, an industry-leading... Read More
  4. 07.11.2018
    07.11.2018
    by      In
    ABB has thrown its weight behind the OPC Foundation in its bid to define the worldwide industrial interoperability standard. The new Open Platform Communication Unified Architecture (OPC UA) standard has the potential to enable industrial players to unlock the full potential of Industry 4.0.
    OPC UA... Read More