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Federal Court appoints Special Purpose Administrators to conduct the investigations of Callide C catastrophic failures

Press Release (Prague, Czech Republic, January 31, 2024)

Sev.en Global Investments welcomes the Federal Court’s decision to approve its request to appoint Special Purpose Administrators to investigate the two catastrophic incidents that occurred in Queensland’s Callide C power station in 2021 and 2022.

The incidents caused major electricity outages and rising costs have plagued Queensland. The Callide C power station once provided approximately 30 percent of Central Queensland's power and its absence has left a void in the grid, straining power supplies and driving up electricity prices. The appointment of these Administrators is a welcome step towards delivering answers to Queenslanders as well as creditors and shareholders affected by the two catastrophic failures.

Alan Svoboda, CEO of Sev.en Global Investments said: “We appreciate the court’s decision. The comprehensive and impartial examination of the circumstances and causes leading to Callide’s C unit 4 turbine explosion in 2021 and unit 3 cooling tower structural collapse in 2022 will help achieve transparency and assist in the recovery of Callide C as well as upholding industry standards across the rest of the state’s critical energy infrastructure. We will finally be delivered answers, whether it was possible to prevent the failures.”

The appointed independent administrators, Mr. Park and Mr. Campbell will immediately begin their investigations into the causes of and understanding who was responsible for the catastrophes at Callide C.

Media Contact:

Veronika Diamantová
+420 775 299 337