Swedish energy provider Vattenfall has rejected Greenpeace Sweden as a possible buyer for the utility’s brown-coal plants in Germany.
The environmental-protection group had expressed interest in acquiring Vattenfall’s German lignite division after the Swedish state-owned utility was ordered by the country’s left-leaning government to divest coal operations in order to reduce carbon-dioxide emissions.
Lignite is a cheap, carbon-heavy fuel also known as brown coal.
Greenpeace, however, was deemed as an unacceptable bidder by Vattenfall’s management. Citigroup, the investment bank involved in the sales process, has now barred Greenpeace as a candidate in the proceedings.