Investor group says selling Liddell an investment risk

A major institutional investor group has warned that any sale of AGL’s Liddell power plant could create investment risks.

The Investor Group on Climate Change, which represents 68 institutional investors who hold $2 trillion in funds, has thrown its support behind AGL’s existing plans to shut the Liddell coal-fired generator in 2022 and replace it with renewable energy in the face of bids to buy the power station.

"A divergence away from this plan, particularly one that does not provide a long-term vision for future uses of the Liddell power station site, its infrastructure and its workforce, would be of considerable concern to investors due to the risks and uncertainty it would create," IGCC chief executive Emma Heard said.

AGL chief Andy Vesey called Liddell "an extremely valuable piece of our portfolio".

Photo: James Alcock

It comes as AGL said it remained focused on reusing the Liddell power plant site after its closure, with chief executive Andy Vesey calling it “an extremely valuable piece of our portfolio”.

Ms Heard said: Strategic investment in the repurposing of infrastructure and the adoption of new technologies to deliver increased generation capacity is exactly the kind of business planning that investors want to see from companies managing climate change impacts for their business."

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