Stanwell Corporation Limited
TypeQueensland Government-owned corporation
IndustryEnergy
Headquarters
Brisbane
,
Australia
Area served
Queensland
Key people
Michael O'Rourke
CEO
ProductsEnergy
RevenueIncrease A$552.7 million (2021)
Decrease (A$433.5) million (2021)
Increase (A$375.4) million (2021)
Total assetsDecrease A$1,814.7 million (2011)
Total equityDecrease A$610.4 million (2011)
OwnerGovernment of Queensland
Number of employees
800
Websitewww.stanwell.com
Footnotes / references
[1]

Stanwell Corporation is a Queensland government-owned corporation. It is the state's largest electricity generator and Australia’s third-largest greenhouse gas emitter.[2]

Stanwell own and operate a portfolio of electricity generation assets in Queensland including two of the youngest and most efficient coal-fired power stations in Australia – Stanwell Power Station in Rockhampton and Tarong North Power Station in the South Burnett.[2]

The business employs approximately 800 people across its various sites in Queensland. The two ministers responsible for Stanwell are the Treasurer of Queensland and Energy Minister.[3]

Major assets

Major assets owned and operated by Stanwell include

On 31 October 2019, ownership of Stanwell's low and no emission power stations was transferred to CleanCo Queensland. This includes the gas-fired Swanbank E Power Station and the three Far North Queensland hydro facilities (Kareeya, Barron Gorge and Koombooloomba). Windy Hill Wind Farm in Queensland and Toora Wind Farm in Victoria were owned by Stanwell but were sold to Transfield Services in 2007. The company also subsequently sold Emu Downs Wind Farm in Western Australia.

Following a review by the Treasurer of Queensland of the state's electricity sector in 2010, Tarong Energy became a wholly owned subsidiary of Stanwell Corporation on 1 July 2011.[4]

History

In 2016, The Department of Environment and Heritage Protection began an investigation into the tailings disposal company used by Stanwell.[5]

Management

In 2016, management at Stanwell was criticised for receiving bonuses when a company they charged with tailings disposal for their assets had not paid its debts.[6]

In 2021, the Chairman of the board of Directors was Paul Binstead. Richard van Breda resigned from the CEO position in 2021.[7]

References

  1. ^ "Stanwell Annual Report 2010" (PDF). Stanwell Corporation. Retrieved 12 June 2011.
  2. ^ a b Smee, Ben (21 April 2021). "Australia's third-largest carbon emitter says it must transition to renewables and curtail coal plants". The Guardian. Retrieved 31 October 2021.
  3. ^ Roe, Isobel (3 May 2017). "Coal Reuse liquidators seek $1.7m from power generator Stanwell over insolvency allegations". ABC News. Australian Broadcasting Corporation. Retrieved 1 November 2021.
  4. ^ "Smooth transition into new structure for Queensland Government Gencos". Press Release. 11 July 2011. Retrieved 5 August 2011.
  5. ^ Roe, Isobel (6 June 2016). "Coal Reuse, Queensland Government corporation contractor, facing court claims over unpaid debts". ABC News. Australian Broadcasting Corporation. Retrieved 1 November 2021.
  6. ^ Roe, Isobel (28 November 2016). "Stanwell executives given 'sham' bonuses while sub-contractors remain unpaid, Opposition MP says". ABC News. Australian Broadcasting Corporation. Retrieved 1 November 2021.
  7. ^ Smee, Ben (28 April 2021). "CEO quit Queensland's biggest power generator after energy minister complained to board". The Guardian. Guardian News & Media. Retrieved 1 November 2021.