CEFC approached about coal-fired power station but says plant not 'financeable'

Clean Energy Finance Corporation says project would need to be indemnified against future risk of carbon price being introduced

The Clean Energy Finance Corporation was approached last Friday by proponents of a new $1.2bn coal-fired power station with carbon capture and storage technology - but officials have cast significant doubt about whether such a project could ultimately proceed.

The CEFC's outgoing chief executive, Oliver Yates, told a Senate estimates hearing on Monday his organisation had received an email submission about the project, which purports to be a 900 megawatt power station with a capital cost of $1.2bn.