Hello [from AFCA].
Just letting you know that [we] spoke to Singleton Council yesterday re Verdant and Redbank.
The Council did not know about the removal of NF biomass as an eligible source of renewable energy from the RE Act regs so I sent them the attached announcement from Bowen.
Verdant has not submitted a new proposal for Redbank. Nor has it, as yet, succeeded in listing the company on the US Nasdaq (stock exchange). At some point it may be important to ensure Nasdaq is aware that Verdant cannot generate ‘Clean Energy Generation Certificates’ for burning NF wood instead of coal. We have also identified a key financial analyst who has provided advice to investors on Verdant who we’ll contact. Roth Capital is trying to raise capital for Verdant….link below.
We’re also following up with all energy retailers and electricity generators, including Alinta in Vic and Stanwell in Qld to make sure they are aware of the decision.