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El País: Spain is on track to become a coal-free country in record time. All of its remaining coal-fired thermal power plants will start shutting down on Tuesday, a year-and-a-half after the closure of the coal mines, which could not survive without the state aid that the European Union has banned. Seven out of the […]
S&P Global Market Intelligence ($): Utility Endesa SA said it could speed up investments in wind and solar power as the Spanish government emphasizes green spending to boost its economy, while the coronavirus is leading to only minor delays in its construction program. “The company has already resumed construction on all its renewable farm projects […]
S&P Global Market Intelligence ($): Utilities in Europe are continuing to move on from coal power after a challenging price environment led to billions in write-downs and a wave of early closures in 2019, with government phaseouts set to cut down the list of remaining power plants even further in the coming years. Francesco Starace, […]
S&P Global Market Intelligence ($): Endesa SA is going all out on wind and solar power to replace money-losing coal plants in Spain and Portugal, executives said, after write-offs on the legacy assets dragged down the utility’s net income by 80% in 2019. Endesa, one of Spain’s largest utilities, is planning to close most of […]
S&P Global Market Intelligence ($): Spanish coal demand for generation slumped to its lowest year on record in 2019, with demand at around a quarter of the previous five years’ average and December recording the first coal-free generation days on record. Total coal-fired output in Spain was 10.8 TWh in the full year, according to […]
PV Tech: Plans for what is being billed as “Europe’s largest solar plant” have been put forward in Spain as the UN climate negotiations came to a close in Madrid. Endesa took the floor at the COP25 summit in Madrid to announce a roadmap to replace its major thermal power plant in the Teruel province […]
Greentech Media: Coal power is no longer competitive in mainland Spain, according to Enel subsidiary Endesa, as the company plans to shut down all of its coal-fired generation capacity on the Iberian peninsula. Endesa operates 23 gigawatts of capacity in total in Spain and Portugal, including 7.5 gigawatts of “traditional thermal power.” In a statement […]
El País: It is not raining, there is less wind and the reservoirs are drying up. Summer is not a good time of year for renewables, and so the chimneys in the coal-fueled power stations of Spain should be belching out smoke right now as usual. And yet the use of this highly contaminating fossil […]
June 7, 2019 (LONDON) – Paris-based Credit Agricole has become one of the first banks to join a growing investor coalition demanding that electric utilities exit coal generation by 2030, underscoring the urgency for strategic change at major energy companies across Europe and other OECD countries. Credit Agricole Group includes banking and asset management activities, […]
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IEEFA Europe: Looming EU anti-pollution standards undercut recent coal investments
Rising carbon prices, falling renewable costs argue for closing coal plants, not retrofitting them
New anti-pollution standards in the European Union that take effect in 2021 are highlighting how cheap coal power plants are no longer an opportunity for buyers to make a quick buck, or grow market share, putting pressure on selling utilities and their investors to close them instead. The business models of two Czech-based firms, Sev.en […]