AEJ, page-3

http://www.singletonargus.com.au/story/4324682/redbank-power-station-back-on-the-market/?cs=1534

Redbank power station for sale

Louise Nichols@louise Nichols (@lilford60) | Twitter

29 Nov 2016, 2:55 p.m.

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Redbank power station at Long Point is back on the market having only been purchased just over 12 months ago by Biogreen Energy Pty Limited.

An advertisement for the power station appeared in today’s Australian Financial Review.

With interested parties to contact Richard Butler the company secretary and chairman of Redbank Energy Ltd.

A company that was delisted from the the Australian Stock Exchange on August 29, 2016.

The controversial 151-watt coal fired power station was originally fuelled by beneficiated, dewatered tailings, or waste coal, from the Mount Thorley Warkworth mine at Warkworth.

In 2001 the first stage of the Redbank project was taken to the Land and Environment Court over claims by environmentalists that it did not meet its own standards and in 2013 a ruptured ash slurry line led to the leaking of the industrial pollutant onto the Golden Highway.

At that time (October 2013) Redbank creditors decided to call in receivers, KordaMentha, to the venture and they eventually closed the power station in October 2014.

Twelves months later Redbank was purchased by Biogreen Energy Pty Limited (Biogreen), a wholly-owned subsidiary of Redbank Energy Limited (REL), for $5 million.

Before the final sale was negotiated it was touted the new operators anticipated delivering base load biomass power generation in New South Wales and that “it will be one of the first large-scale non-hydro renewable electricity generation sources in this state”.

However, a spokesperson for REL has told The Argus, last year, wood waste will be used to produce electricity and they will attempt to source it locally.