November 19, 2018 Read More →

Endesa to shutter two of its Spanish coal-fired power stations

Reuters:

Spanish utility Endesa plans to close two of its coal plants in Spain, representing around two-fifths of its coal-fired generating capacity in the country, the company said on Friday.

As companies globally move towards a lower carbon economy, Endesa’s Italian parent company Enel, is phasing out coal-fired power plants and focusing on electricity grids, renewable energy and its retail business.

“We will present the application shortly because we do not plan to carry out the necessary investments to comply with European regulations,” an Endesa spokesman said. The European Union set new standards on resources and emissions for combustion plants last year, requiring expensive technological upgrades.

Spain’s Socialist Prime Minister Pedro Sanchez signaled his intention to go green when he took power in June, bringing together energy and environment into one ministry, which is now working on a new law on climate change. A working draft for the new law includes plans to raise the share of renewable sources in the energy mix to 35 percent by 2030.

The plants in Teruel in the country’s north-east, which has a capacity of 1,101 megawatts (MW), and Compostilla in the north-west, with a 1,051 MW capacity, are due to close in 2020.

More: Endesa to close two Spanish coal plants in 2020

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