Exclusive: Uniper to shut down German hard-coal power plants by 2025 | MarketScreener
Exclusive: Uniper to shut down German hard-coal power plants by 2025
01/30/2020 | 06:58am EDT
"We're setting Uniper on a decisive course for the future: our actions will provide planning security to our employees at the facilities affected and give our company the financial and structural flexibility to focus on important, sustainable projects," CEO Andreas Schierenbeck said.
The planned closures represent about half of Uniper's total hard coal-fired capacity in Europe and come as investors and governments demand sustainable business models that do not rely on fossil fuels.
The planned closures would cut Uniper's carbon emissions by about 18 million metric tonnes per year, it said.
Schierenbeck told Reuters last week that the group planned to significantly slash its CO2 emissions, which stood at 59.5 million metric tonnes in 2018, half that of larger peer RWE, Europe's biggest polluter.
The plans do note affect Datteln 4, Uniper's new 1.5 billion euro state-of-the-art coal-fired power plant which is scheduled to go on-line in mid-2020.
Uniper's largest shareholder is Finland's Fortum, which holds a 49.99% stake. That holding could top 70% if a deal with activist funds Elliott [ECAL.UL] and Knight Vinke goes through.
(Editing by Riham Alkousaa and Jason Neely)
By Christoph Steitz, Tom KÃ¤ckenhoff and Vera Eckert
FORTUM OYJ -5.92% 13.1 -36.70%
UNIPER SE -4.64% 23.43 -20.60%
Sales 2020 64 583 M
Net income 2020 1 051 M
Exclusive: Uniper to shut down German hard-coal power plants by 2025 | MarketScreener
Exclusive: Uniper to shut down German hard-coal power plants by 2025
01/30/2020 | 06:58am EDT
"We're setting Uniper on a decisive course for the future: our actions will provide planning security to our employees at the facilities affected and give our company the financial and structural flexibility to focus on important, sustainable projects," CEO Andreas Schierenbeck said.
The planned closures represent about half of Uniper's total hard coal-fired capacity in Europe and come as investors and governments demand sustainable business models that do not rely on fossil fuels.
The planned closures would cut Uniper's carbon emissions by about 18 million metric tonnes per 
year, it said.
Schierenbeck told Reuters last week that the group planned to significantly slash its CO2 emissions, which stood at 59.5 million metric tonnes in 2018, half that of larger peer RWE, Europe's biggest polluter.
The plans do note affect Datteln 4, Uniper's new 1.5 billion euro state-of-the-art coal-fired power plant which is scheduled to go on-line in mid-2020.
Uniper's largest shareholder is Finland's Fortum, which holds a 49.99% stake. That holding could top 70% if a deal with activist funds Elliott [ECAL.UL] and Knight Vinke goes through.
(Editing by Riham Alkousaa and Jason Neely)
By Christoph Steitz, Tom KÃ¤ckenhoff and Vera Eckert
FORTUM OYJ -5.92% 13.1 -36.70%
UNIPER SE -4.64% 23.43 -20.60%
Sales 2020 64 583 M
Net income 2020 1 051 M