Brown Coal

Vattenfall Spurns Greenpeace Bid

Greenpeace is out of the running to takeover Vattenfall's German lignite operations. Source: DPA
Greenpeace is out of the running to take over Vattenfall's German lignite operations.
  • Why it matters

    Why it matters

    Germany’s switch to renewable energy sources is challenging traditional utilities as the value of their facilities is falling significantly.

  • Facts


    • Greenpeace Sweden offered nothing to Vattenfall for its German lignite operations and would instead demand money to wind down brown coal.
    • Vattenfall valued its German coal-fired plants at between €2 billion-€3 billion, but the sales price would likely be considerably lower, closer to €1 billion.
    • The company employs about 8,200 people in lignite mining and its German coal-fired power plants.
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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.

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