Greenpeace wants to bid for German coal-fired power plants 

Posted: October 12, 2015 by oldbrew in Big Green

Future in doubt

Future in doubt

Slight problem for Greenpeace though – the likely price is over $2 billion, as PEI reports. This may look like another one of its publicity stunts, but some steps have already been taken.

Greenpeace is considering the purchase of more than 8,000 MW of lignite coal-fired power plant capacity, along with coal mines in Germany. The environmental group’s strategy is to prevent other interests from running the facilities and it is now looking at options to fund the purchases.

The assets are valued at $2.2bn and Annika Jacobson, head of Greenpeace in Sweden told Bloomberg, “there are many ways to finance such an acquisition and we are looking at those.”

Greenpeace “may also look at the possibility of buying strategic parts,” she said.

The organization could finance a potential acquisition with donor money, crowd-funding and other sources of financing. Sabine Froning, a spokeswoman for Vattenfall, said in an e-mailed statement, also to Bloomberg, on Tuesday. “All serious bids are welcome.” The process of finding a buyer will be “open,” she added.

Source: Greenpeace mulls purchasing Vattenfall’s coal-fired power plants – Power Engineering International

Note: Vattenfall is owned by the Swedish government.

  1. Coal fired power stations are commercially unviable in Germany, but the German government (via the Federal Network Agency – Bundesnetzagentur) says which ones are allowed to be shut down. And Vattenfall’s, which include some of the most modern, efficient and clean lignite burners, aren’t going to be permitted to go off grid. If Greenpeace try, the government will step in and give it to operators who will keep things running.

    Greenpeace will never get loans on a commercial basis for such a folly.

    Because of the first problem noted above, caused by the mandate to give grid supply preference to wobbly power from wind and solar. Coal, etc. are expected to fill the supply gap, Vattenfall is going to have a lot of trouble finding buyers willing to accept deep losses until the Energiewende’s preference for subsidy-sanctified wind and solar is abandoned.

    Vattenfall is obligated by Sweden’s bowing to the death cult of CAGW to divest itself of carbon. It’s no way to run a company, but they must obey their irrational masters.

  2. Bryan says:

    The only reason for Greenpeace must be to shut them down!
    But as BF above says the government will then confiscate them to keep the lights on.
    It wont be the first time Greenpeace went for a walk in the fantasy park

  3. graphicconception says:

    What an absolutely brilliant idea!. I think we should organise a whip-round to make sure they get all the funding they require.

    Wasn’t it Napoleon who said: “Never interrupt your enemy when he is making a mistake.”

    Let’s see how Germany copes without coal before we decide to follow suit.
    What could possibly go wrong?

  4. oldbrew says:

    Bernd says: ‘Vattenfall is obligated by Sweden’s bowing to the death cult of CAGW to divest itself of carbon’

    A lot of the big energy companies are splitting off or selling their ‘carbon-based’ assets. So when carbon pricing, a carbon tax or whatever it is comes in after the Paris climate talks they can threaten to let them go bankrupt, thus dumping the ‘problem’ on to the State.

  5. rishrac says:

    And when it gets cold? I think it is called a conflict of interest. Advocating the closing or buying strategic assets is an old trick. Buy low sell high. Something is not right here.

    If I’m right and CAGW is wrong, that means that they already know. And all this is a process to depress prices, and buying cheap. That’s pretty much what I’ve thought all along. And to try to revive the nuclear indusrty. What do you think will happen to a coal stock that was selling for 20 or more a share and is not under a dollar US? For disclosure, I now own coal, gas, and oil stocks. When CAGW was accusing of working for big oil, I didn’t own any, but I do now. If I could buy that electric plant, I surely would…. but not to close it.

  6. Power Grab says:

    @ rishrac: I agree. I’ve said the same thing…somewhere or other. 😉

    Because what will be worth more in the future if we are heading into an ice age (little or big, whatever)? So-called “fossil fuel”-based energy generation. It will keep you going when solar and wind have bit the dust.

  7. kuhnkat says:

    I wonder if Soros and friends would back them. Here in the US he is buying coal to mine and export. In Germany he may be looking to control the power market. Commies together looting the public.

  8. oldbrew says:

    The Czechs are sniffing around this one.

    ‘ČEZ admits that it’s in the frame to buy the assets of Vattenfall in Germany, but the big question is how profitable will the German government allow the lignite coal and power sector to be.’