January 30, 2020 Read More →

Uniper set to close 2.9GW of German coal capacity by 2025

Reuters:

Uniper aims to close most of its German hard coal-fired power plants over the next five years, accounting for half its European coal capacity, the utility said on Thursday.

Uniper, formed in 2016 after being spun off from E.ON, has drawn up plans to shut down about 1.5 gigawatts of capacity involving three blocks at its Scholven plant plus the Wilhelmshaven power station by the end of 2022, it said. It will then shut a further 1.4 GW at its Staudinger and Heyden sites by end-2025, the group added, confirming an earlier Reuters story.

The planned closures represent about half of Uniper’s total hard coal-fired capacity in Europe and come as investors and governments demand sustainable business models that do not rely on fossil fuels.

The planned closures would cut Uniper’s carbon emissions by about 18 million metric tonnes per year, it said.

The plans do not affect Datteln 4, Uniper’s new 1.5 billion-euro state-of-the-art coal-fired power plant which is scheduled to go on-line in mid-2020.

Uniper’s largest shareholder is Finland’s Fortum, which holds a 49.99% stake. That holding could top 70% if a deal with activist funds Elliott and Knight Vinke goes through.

[Christoph Steitz, Tom Käckenhoff and Vera Eckert]

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