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Swedish energy firm Vattenfall is selling its German coal operations in a bid to move towards renewable energy, the Guardian reported. As quoted in the publication: Vattenfall said it would sell its German lignite, or brown coal, business – opencast coalmines and two power plants close to the German-Polish border – to Czech operator EPH. …
Swedish energy firm Vattenfall is selling its German coal operations in a bid to move towards renewable energy, the Guardian reported.
As quoted in the publication:
Vattenfall said it would sell its German lignite, or brown coal, business – opencast coalmines and two power plants close to the German-Polish border – to Czech operator EPH.
The coal operations represent about one-tenth of Vattenfall’s power production inGermany, where it is the third-largest energy supplier.
“This divestment of our lignite assets is good strategically but also financially given current and expected market conditions,” said Vattenfall chief executive, Magnus Hall.