“Having reached the age of 74 I now feel it is appropriate for me to retire. I am proud to have been a part of a company which is now clearly an international leader in renewable energy generation,” Mr Denton said.

The current deputy chairman Michael Brown has been appointed to the position of chairman while Bruce Harker has been appointed deputy chairman.

Energy Development said Mr Brown has over 20 years experience in the energy industry in Australia, the USA, Japan and Malaysia, is chairman of Repco Corporation and a director of James Hardie Industries NV.

“In his executive career Mr Brown was a director of several Australian public companies. He has extensive experience in global business and finance, including direct involvement in the international energy and waste management industries,” Energy Development told the stock exchange.