Deal Signed for Huge Coal Power Plants in Hunter Valley

Deal Signed for Huge Coal Power Plants in Hunter Valley
AP Photo/Czarek Sokolowski

A deal has been signed to develop two massive new coal-fired power stations near Kurri Kurri in the New South Wales Hunter region, according to a Hong Kong-based investment firm.

Guardian Australia can reveal that local authorities – including the Cessnock mayor, Bob Pynsent – have been briefed about the unusual plans to turn the failed Hunter economic zone into a 2,000 megawatt coal power plant.

In a statement to the Hong Kong stock exchange late last week, the investment company Kaisun Holdings announced it had signed a memorandum of understanding with a Chinese state-owned power provider and a tiny Australian private company to build two 1,000MW power stations.

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