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IEEFA
Financial Times: Europe’s renewable energy industry is used to breaking records for generating more power from low carbon sources. Yet two recent milestones stand out. Vattenfall, the Swedish energy group, and Norway’s Statoil were among the companies that took the market by surprise before Christmas when they bid in the world’s first exclusively subsidy-free offshore […]
Gerard Wynn
Investors May Not Be Eager to Absorb More Losses Like Those Seen in Recent Dutch Build-Outs
Investment in new coal-fired power plants appears off the agenda in Western Europe. Witness the astonishing write-down of brand-new assets in the Netherlands, where European utility giants RWE, Uniper, and Engie have drastically reduced their valuations of plants barely a year old (read the report we published this morning, “The Dutch Coal Mistake,” which concludes […]
Gerard Wynn
In the Shadow of a Fading Industry, a Newer One Grows
In the same week that Germany’s economy minister, Sigmar Gabriel, ruled out a coal phase-out timeline until alternatives opportunities are in place for affected communities, Daimler broke ground on a major new electric vehicle battery factory 30 kilometers from the 1,500-megawatt Schwarze Pumpe power plant in the lignite mining heartland of Lausitz. Gabriel on Tuesday […]
IEEFA
Kalina Oroschakoff for Politico Europe: Coal might be on its way out in Europe, but Czech energy company EPH thinks that there’s still money to be made in coal-fired power plants, which is why it’s snapping up mines and generating stations in Germany, Italy and the U.K. It’s part of a counter-intuitive investment play gambling […]
Gerard Wynn
Czech Buyers of Former Vattenfall Holdings Are Banking on a Bailout
Coal is the highest carbon-emitting source of electricity, and lignite the highest carbon-emitting form of coal. Lignite is therefore front and center among risks facing investors from global efforts to slow climate change. Nowhere is this more true than in Germany, where lignite is still the single biggest source of power generation, accounting for one quarter […]
Gerard Wynn
Foundation-Based Approach to Closure and Clean-Up; New Czech Owners of Vattenfall Assets in Lausitz Can Afford to Foot the Bill; a Timeline That Helps Local Communities Prepare for Transition
The recent “sale” by the Swedish state-owned utility Vattenfall of its German lignite assets throws a harsh light on a dark paradox: the continued use of the world’s most carbon-intensive fuel by a country with some of the most ambitious targets to tackle climate change. The deal transfers a cluster of lignite mines and their […]
IEEFA Europe: Can Coal Power Hang On?
Investors May Not Be Eager to Absorb More Losses Like Those Seen in Recent Dutch Build-OutsInvestment in new coal-fired power plants appears off the agenda in Western Europe. Witness the astonishing write-down of brand-new assets in the Netherlands, where European utility giants RWE, Uniper, and Engie have drastically reduced their valuations of plants barely a year old (read the report we published this morning, “The Dutch Coal Mistake,” which concludes […]