Australia has laid out plans to close what is believed to be the country’s largest carbon-polluting power plant up to ten years earlier.

AGL Energy, Australia’s largest electricity generator said its Loy Yang A power station will close by 2035.

The energy giant has said it is targeting to complete its exit from coal-fired generation by this year – it expects to reduce its annual Scope 1 and 2 greenhouse gas emissions from 40 million tonnes to zero upon achieving the closure of coal plants.

AGL Chair, Patricia McKenzie, said: “AGL is committing to an ambitious but achievable strategy to deliver a responsible and accelerated low carbon future.

“We are aiming to reshape our energy portfolio into a cleaner and more flexible one, transitioning away from coal and focusing on new renewable and firming capacity.

“This represents one of the most significant decarbonisation initiatives in Australia. It supports the transition to a lower carbon world aligned with the Paris Agreement goals.”