The Yallourn Power Station, now owned by EnergyAustralia a wholly owned subsidiary of the Hong-Kong-based CLP Group, is located in the Latrobe Valley of Victoria, Australia, beside the Latrobe River, with the company town of Yallourn located to the south west. Yallourn PS was a complex of six brown coal–fired thermal power stations built progressively from the 1920s to the 1960s; all except one have now been decommissioned. Today, only the 1,450 megawatts (1,940,000 hp) Yallourn W plant remains. It is the second largest power station in Victoria, supplying 22% of Victoria's electricity and 8% of the National Electricity Market. The adjacent open cut brown coal mine is the largest open cut coal mine in Australia, with reserves sufficient to meet the projected needs of the power station to 2028. On 10 March 2021, EnergyAustralia announced that it will close the Yallourn Power Station in mid-2028, four years ahead of schedule, and instead build a 350 megawatt battery in the Latrobe Valley by the end of 2026. At the time, Yallourn produced about 20% of Victoria's electricity.