The 1.5 GW plant came online in 1971 and supplies 25 per cent of Victoriaà¢€â„¢s baseload power capacity.
Isabelle Kocher, Engieà¢€â„¢s CEO, said on Wednesday that the company is à¢€Å“studying all possible scenarios, including closure, or a sale if the state of Victoria tells us that it cannot meet power generating needs without this plantà¢€.
Kocher said Engie plans to gradually decrease its coal-fired power production over the next few years as the firm transforms its business model from coal- and gas-fired power to renewables, energy services and decentralized energy technologies.
The firm intends to review its coal-fired power plants and shut down the oldest and least efficient, or convert them to biomass if viable.
In 2005, Hazelwood was listed as the OECDà¢€â„¢s least carbon-efficient power plant in a report from WWF Australia.
Engie has already shut down 1.6 GW of coal-fired capacity in Europe, most recently its 1800 MW Polaniec coal-fired plant in Poland.
Kocher said that more efficient plants in developing countries would likely be sold rather than shut down. Earlier this year the company sold coal-fired plants in India and Indonesia, bringing the share of coal-fired power in its overall mix to around 10 per cent.
Image credit: SimpsonsFan66/Wikipedia