01 Performance ENERGY DEVELOPMENTS LIMITED

CEFC ANNUAL REPORT / 2014–15

Energy Developments Limited

The CEFC provided a $75 million senior secured corporate loan facility to Energy Developments Limited (EDL) for projects to capture landfill gas, waste coal mine gas or mine vent air methane.

Project Scope

EDL’s expansion of the Moranbah North power station in Queensland, to generate power from waste coal mine gas, increased its abatement of CO2-e by 40 per cent.

The expansion was underpinned by a 25-year extension of gas supply arrangements with Anglo-American. The expansion also enables EDL to provide network support services in the Bowen Basin area under a two-year agreement with Powerlink Queensland.

EDL has reported that its landfill gas power stations around the world, and waste coal mine power stations in Australia, have abated and avoided approximately 12 million tonnes of CO2-e of greenhouse gas emissions, equivalent to removing 3.5 million cars from the road.

Progress report

  • Shareholders in EDL have approved a $1.7 billion takeover offer from DUET Group, providing a positive market validation of EDL, which CEFC has supported with growth capital.

  • EDL has reported that the power station has performed beyond expectations.

  • EDL is a successful bidder in the first auction for the Emissions Reduction Fund, successfully contracting more than 3 million Australian Carbon Credit Units (ACCUs), each ACCU being the equivalent of one tonne of CO2-e reduction in greenhouse gas emissions.