French utility Engie sells German and Dutch coal plants
Reuters / pv magazine
The French utility Engie will sell four coal-fired power plants in Germany and the Netherlands as part of the utility鈥檚 strategy to focus on its renewable energy business, Catherine Rollett reports in . Engie will sell plants with a total capacity of about 2.3 GW to American private equity firm Riverstone Holdings. After the sale, coal will make up just 4 percent of the utility鈥檚 global generation portfolio, . In 2015, Engie announced plans to 鈥渄rastically reduce鈥� its coal-fired generation, Rollett reports.
The Netherlands plans to close all of the country鈥檚 coal-fired power plants by 2030, Rollett writes. Germany鈥檚 coal commission has recommended ending the use of coal by 2038. It is now up to the government to move on the proposal and mould it into legislative drafts before parliamentarians get the final say. Electricity generation from coal has long served German industry, supplied whole regions with jobs and wealth, and to date remains a pillar of the country鈥檚 energy supply.
