RWE rules out purchase of Vattenfall coal power plants

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Germany's largest lignite producer, RWE, will not be taking over the lignite-fired power plants, currently being offered for sale by Swedish competitor Vattenfall.

DPA website reports that a spokesperson for the company said that there are no plans for acquiring the coal-fired power plants.
Last week, Vattenfall announced that it would consider a new ownership structure of its lignite sector in the Lausitz region, the second largest coal mining area in Germany.

Sweden's new green-tinged government wants state-owned Vattenfall to put more emphasis on renewable energy and is driving the move away from lignite.

RWE is currently over 30 billion euros in debt and highly unlikely to be able to perform a large acquisition.

A genuine move for the Vattenfall lignite division is expected to come from Czech energy group EPH. EPH already owns the Central German lignite company, Mibrag in Saxony –Anhalt.

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