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Bluewaters coal-fired power station written off as worthless as renewables rise – ABC News
The owners of the Bluewaters coal-fired plant in Western Australia have written down the value of the asset to zero, despite it being barely ten years old.
The owners of Australia’s newest coal-fired power station have written down the value of the asset to zero, wiping out a $1.2 billion investment in the face of an onslaught of renewable energy.
Key points:
- The Bluewaters coal-fired plant in Collie is barely ten years old
- Its Japanese owners have written it off as worthless
- The move is being pinned on the rise of renewable energy
In what a financial market analyst said was a “classic example” of changes predicted in the energy industry, Japanese conglomerate…
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