THE PITS
Greenpeace mulls bid for Swedish lignite group
by Staff Writers
Stockholm (AFP) Oct 6, 2015


An unexpected bidder emerged Tuesday for the German lignite mining operations of Swedish utility Vattenfall: Greenpeace.

State-owned Vattenfall has been pondering strategies for its lignite operations in eastern Germany, whose sustainability was questioned in a German Institute for Economic Research (DIW) study last year.

In a statement, Greenpeace said it had put in the bid to try to prevent the opening of new mines "and thus keep the lignite in the ground."

The soft brown coal has a dirty reputation because of its high emissions of heat-trapping carbon dioxide (CO2).

"If the operation were sold to another buyer it would lead to the opening of five new lignite mines," Greenpeace said.

"These mines contain an amount of carbon dioxide that would be equivalent to 1.2 billion tons."

Vattenfall said Greenpeace had filed a letter of interest with Citigroup, which has been mandated to oversee the sale, and it would take a close look at the bid.

"This is an open process and all serious offers are welcome," said Vattenfall spokeswoman Sabine Froning.

The company did not give financial details of the offer.

Vattenfall, the third-largest electricity producer in Germany, last month launched moves to move out of extraction and production of lignite in Germany and decommission power plants and coal mines to help meet carbon reduction targets.

In April, Greenpeace said it hoped to see a phaseout from lignite through "a climate-friendly and socially responsible road map."

"We are seriously going to discuss the purchase with Vattenfall. We have good knowledge of the issue of the future energy market and the evolution of climate policies," Greenpeace Sweden president Annika Jacobson said.

The east German operations employ around 8,000, in a region which still far lags western Germany in development. The lignite industry provides some 85,000 jobs in Germany as a whole.

The move comes ahead of December's UN-led climate talks in Paris, targeting a global accord to limit global warming to 2 degrees Celsius (3.6 degrees Fahrenheit) over pre-Industrial Revolution levels.

Those talks come amid heady debate the future of fossil fuels, with some analysts saying many coal mines could become stranded assets, which cannot be exploited because of environmental costs.

Greenpeace said the Swedish state, which has 100-percent ownership of Vattenfall, bore heavy responsibility for protecting the environment.

"The Swedish government cannot contribute to an acquisition by a buyer that would continue to burn enormous amounts of coal. This is a signal Sweden cannot give before the Paris climate conference," it said.

Greenpeace estimated its reserves at 18 million euros ($21 million) in its last annual accounts.

Two Czech firms have already expressed early interest for the Vattenfall operations.

hh/gab/php/cw/ri/fg

CITIGROUP

.


Related Links
Surviving the Pits






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
THE PITS
Australia court blocks huge India-backed coal mine
Sydney (AFP) Aug 5, 2015
An Australian court Wednesday revoked approval for an Indian-backed project to build what could be one of the world's biggest coal mines, which environmentalists say threatens the World Heritage-listed Great Barrier Reef. But while environment groups hailed the decision as another important step in the Aus$16.5 billion (US$12.2 billion) project's eventual demise, Indian firm Adani insisted i ... read more


THE PITS
Leaders call for carbon pricing worldwide

ADB supports Indonesian energy diversity

US cities ranked on impact of urban heat islands on temps

Brazil's Rousseff pledges 37% cut in greenhouse gas emissions

THE PITS
Hydrogen for all seasons

NCSEA report maps regulatory, policy path to develop energy storage in NC

McMaster engineers build better energy storage device

Discovery about new battery overturns decades of false assumptions

THE PITS
US has fallen behind in offshore wind power

Moventas rolls out breakthrough up-tower planetary repairs for GE fleet

Chinese firm invests in Mexican wind power projects

German wind power output topping 2014 total

THE PITS
Research improves efficiency from larger perovskite solar cells

Tadiran batteries to power BrightSource's heliostats solar farm

Graphene as a front contact for silicon-perovskite tandem solar cells

New 'greener' way to assemble materials for solar applications

THE PITS
Poroshenko Ends Cooperation With Russia on Nuclear Plant Construction

International research team finds thriving wildlife populations in Chernobyl

TEPCO Removes Protective Cover Over Crippled Fukushima Reactor

EDF says ball in China's court on UK nuclear plant: FT

THE PITS
Microalgae biomass as feedstock for biofuel, food, feed and more

Barley straw shows potential as transport biofuel raw material

Green biomass entails potential as well as challenges

Bravo to biomass

THE PITS
Exhibition on "father of Chinese rocketry" opens in U.S.

The First Meeting of the U.S.-China Space Dialogue

China's new carrier rocket succeeds in 1st trip

China launches new type of carrier rocket: state media

THE PITS
Climate aid from rich nations at $62 bn in 2014: report

Surface of the oceans affects climate more than thought

Vulnerable nations launch 'V20' to fight climate change

60 mn people in sub-Saharan Africa risk famine: Red Cross