australias newest coal powerplant: a 1.2 billion dollar investment today worth zero.
I like to focus on the positive here at solarpunk lifestyle, thats the point of the headder image. Coal steam engines were once the epitome of modern technology. able to carry vastly more weight than a horse and carriage, able to travel faster and smoother to all parts of ... well the uk. I think machines are beautiful. engineering can be beautiful and when the sun sets on a chapter in history, we should be appreciative. thankful. grateful that people came before, honnor the sacrifice of the tens of thousands of people who lost their lives in coal mines. as of 2020, we write the last chapter of humanitys relationship with coal, with love. like marie knodo thanking old sweatters, dear coal. thank you for being what you were. when we needed you, you helped us grow. but, dearest coal, this relationship does not spark joy. and it is time for you to be left behind. to sit on the storied pile of once great ideas. your service is complete and it is time for you to rest.
this brings us to todays story. the oldest coal fired powerplants in the usa date to the start of the 2nd world war. 70 year service life for large steel components with technitians working on them every day is not unreasonable. So when I tell you that the ten year old coal plant has been writen off as worthless please understand: this is us winning the climate war.
this move was not isolated, the joint venture owned by two japnese firms who levied the initial 1.2 billion to buy the power station only 9 years ago were both unable to convince any major financial institution to back the projects 370 million influenced in significant fashion by the institutions skepticism of the fossil fuel industry and the criticalitiy of coal in particular.
how does a 1.2 billion dollar facility stop being worth anything? its quite simple, renweables in the region are growing further and faster and providing more, power cheaper. this is good news folks. this is us winning.
read more from abc au below