Stanwell Corporation
| Company type | Government-owned corporation |
|---|---|
| Industry | Electricity generation |
| Founded | 1997 |
| Headquarters | Queensland , Australia |
Key people | Michael O'Rourke (CEO), Paul Binsted (Chairperson) |
| Products | Electricity |
| Owner | Queensland Government (ministers David Janetzki and Ros Bates) |
Number of employees | 900 |
Stanwell Corporation operates as a Queensland Government-owned enterprise and stands as the largest electricity producer within the state, ranking third nationally in terms of greenhouse gas emissions.
The company manages a range of power generation facilities throughout Queensland, notably including two of the nation’s most modern and efficient coal-fired power plants: the Stanwell Power Station located in Rockhampton and the Tarong North Power Station situated in the South Burnett area.
With a workforce of approximately 900 employees distributed across various locations in Queensland, Stanwell’s ownership is overseen by ministers David Janetzki, who holds the positions of Treasurer and Minister for Energy, and Ros Bates, serving as the Minister for Finance and Trade.
Major assets
Stanwell’s principal holdings comprise:
- Stanwell Power Station
- Tarong Power Station
- Tarong North Power Station
- Meandu Mine
- Stanwell Battery Energy Storage System (currently under development)
- Tarong Battery Energy Storage System (currently under development)
- Wambo Wind Farm (constructed as a 50:50 partnership with Cubico Sustainable Investments, currently under development)
On 31 October 2019, Stanwell transferred its ownership of low and zero emission power facilities to CleanCo Queensland. This transfer included the gas-fired Swanbank E Power Station along with three hydroelectric plants in Far North Queensland: Kareeya, Barron Gorge, and Koombooloomba. Earlier divestments involved wind energy assets such as Windy Hill Wind Farm (Queensland) and Toora Wind Farm (Victoria), sold to Transfield Services in 2007, alongside the Western Australian Emu Downs Wind Farm.
Following a comprehensive review of Queensland's electricity sector by the Treasurer of Queensland in 2010, the former entity Tarong Energy was consolidated into Stanwell Corporation effective 1 July 2011.
The Mackay Gas Turbine ceased operations in April 2021 and no longer participates in the National Electricity Market.
History
Founded in 1997 as a government-owned corporation under Queensland jurisdiction, Stanwell has overseen a diverse portfolio including gas-fired plants, pumped hydro facilities, and Queensland’s inaugural wind farm.
The Tarong power stations, commissioned between 1984 and 1986, generate approximately one-fifth of Queensland’s electricity demand.
Meandu Mine, which commenced operations in 1978 to supply coal for Tarong, became part of Stanwell’s assets following July 2011 and continues to serve as its exclusive coal source.
Commissioned between 1993 and 1996, the Stanwell Power Station contributes about 10% of Queensland’s electricity supply and ranks among Australia’s most advanced and automated subcritical coal-fired power stations.
Coal procurement for Stanwell predominantly relies on the Curragh Coal Mine located in Central Queensland, operated by Coronado Resources, with additional supplies sourced from other regional producers when necessary.
Management
Michael O'Rourke assumed the role of Chief Executive Officer at Stanwell in 2021, succeeding Richard van Breda. Since 2020, Paul Binsted has held the position of Chairperson on the Board.
Controversies
In 2016, the Department of Environment and Heritage Protection conducted an inquiry into Coal Reuse, a contractor responsible for fly ash disposal on behalf of Stanwell, regarding allegations of improper handling of waste from Tarong power stations. Additionally, Stanwell was penalized on two occasions for violations of environmental approval conditions.
During the same year, Stanwell's leadership came under scrutiny for receiving performance-related bonuses following the liquidation of Coal Reuse, which occurred due to outstanding subcontractor payments. Stanwell clarified that it would not provide compensation to the subcontractors affected, citing the use of public funds as a key factor in this decision.