ENGIE to sell German and Dutch coal assets

The French utility says it has reduced its coal-based power generation capacity by around 75% over the last three years

The Big Zero report

French utility ENGIE has announced it is selling its shares in coal-fired power stations in the Netherlands and Germany.

It has signed an agreement with Riverstone Holdings for the sale of its coal assets that represent a total installed capacity of 2.3GW.

Following the sale of its stakes in the Rotterdam plant in the Netherlands and the Farge, Zolling and Wilhelmshaven plants in Germany, coal will represent 4% of ENGIE’s global power generation capacities.

That’s down from 13% at the end of 2015 when the company announced it would gradually close or dispose of its coal assets.

The utility said it has reduced its coal-based electricity generation capacity by around 75% over the last three years.

ENGIE CEO Isabelle Kocher added: “We are focusing investments on solutions for corporates and local authorities, large-scale development of renewable energy and the necessary adaptation of power and gas networks to the energy transition. We will allocate €12 billion [£10.35bn] to these activities from 2019 to 2021, as previously announced during our Capital Market Day held this past February 28th.”

The UK recently set a new record with the first ever week of coal-free operation of the electricity system.

Technologies for energy users that can help them reduce costs and emissions will be among those on display at The Energy Solutions Show (TESS)  on June 5th at Millennium Point, Birmingham.

If you wish to register as a delegate for free, you can send an e-mail here or to showcase your technology, you can get in touch here.

 

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