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Released November 10, 2014 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) - Swedish energy company Vattenfall AB (Stockholm, Sweden) is forging ahead with cleaning up its electricity portfolio by announcing the planned sale of its German coal-fired power plants and coal mines.
The company, which has been concentrating more on renewable energy in recent years, has seen its mining operations become the target of increased protests in Germany and Poland.
"We have a clear strategy to reduce our CO2-exposure and to transform our business into a more renewable based portfolio," explained Magnus Hall, CEO and president of Vattenfall. "The Board of Directors has decided that Vattenfall will explore options for creating a sustainable, new ownership structure for the lignite operations. We recognise the current and future importance of lignite based generation for the local economy and the German energy policy. The federal states of Brandenburg and Saxony are key stakeholders for Vattenfall's activities in the Lusatia region and we will maintain a close dialogue with them in the process. Vattenfall will remain fully committed to its other businesses in Germany, such as district heating, distribution, sales, trading, wind power and other types of power generation."
Vattenfall operates three coal-fired power plants and two lignite coal mines. Its Jaenschwalde coal-fired plant is classed as the fourth-largest emitter of carbon dioxide (CO2) in Europe.
At the end of the summer, environmental groups protested against the using of lignite in the Lusatia region, with 7,500 people forming an 8km chain between Kerkwitz in Germany and Grabice in Poland. They were protesting against plans by Vattenfall to extend its existing open cast mines Nochten and Welzow-Süd and also PGE's plans to extend its mining operations in the Polish region.
At the time, Wolfgand Rolland, Head of Business Communication Mining and Generation, at Vattenfall said: "Vattenfall is investing heavily in renewable energy production in Germany. However lignite will be crucial to meet the German electricity demand. It is also considered a reliable partner to volatile renewable energy sources since lignite can be used to balance load according to Rolland. Lignite's share of the gross production of electricity in Germany has been at a stable level of 25% for the last 15 years."
Coal's role in Europe's electricity mix remains high but renewable energy is where most of the new investment money is going. Last week, both Denmark and Germany announced intentions to significantly reduce the use of coal-fired electricity. For additional information, see November 7, 2014, article - Coal Power Under Fire in Europe.
View Plant Profile - 1078676
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.
The company, which has been concentrating more on renewable energy in recent years, has seen its mining operations become the target of increased protests in Germany and Poland.
"We have a clear strategy to reduce our CO2-exposure and to transform our business into a more renewable based portfolio," explained Magnus Hall, CEO and president of Vattenfall. "The Board of Directors has decided that Vattenfall will explore options for creating a sustainable, new ownership structure for the lignite operations. We recognise the current and future importance of lignite based generation for the local economy and the German energy policy. The federal states of Brandenburg and Saxony are key stakeholders for Vattenfall's activities in the Lusatia region and we will maintain a close dialogue with them in the process. Vattenfall will remain fully committed to its other businesses in Germany, such as district heating, distribution, sales, trading, wind power and other types of power generation."
Vattenfall operates three coal-fired power plants and two lignite coal mines. Its Jaenschwalde coal-fired plant is classed as the fourth-largest emitter of carbon dioxide (CO2) in Europe.
At the end of the summer, environmental groups protested against the using of lignite in the Lusatia region, with 7,500 people forming an 8km chain between Kerkwitz in Germany and Grabice in Poland. They were protesting against plans by Vattenfall to extend its existing open cast mines Nochten and Welzow-Süd and also PGE's plans to extend its mining operations in the Polish region.
At the time, Wolfgand Rolland, Head of Business Communication Mining and Generation, at Vattenfall said: "Vattenfall is investing heavily in renewable energy production in Germany. However lignite will be crucial to meet the German electricity demand. It is also considered a reliable partner to volatile renewable energy sources since lignite can be used to balance load according to Rolland. Lignite's share of the gross production of electricity in Germany has been at a stable level of 25% for the last 15 years."
Coal's role in Europe's electricity mix remains high but renewable energy is where most of the new investment money is going. Last week, both Denmark and Germany announced intentions to significantly reduce the use of coal-fired electricity. For additional information, see November 7, 2014, article - Coal Power Under Fire in Europe.
View Plant Profile - 1078676
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.
