ČEZ submitted an offer to buy Swedish Vattenfall’s German assets

Czech energy company ČEZ has submitted a non-binding offer to buy Swedish Vattenfall’s German brown coal and hydroelectric activities.
ČEZ submitted an offer to buy Swedish Vattenfall’s German assets

Train station in Berlin, Germany (Borja Iza, CC BY-NC)

ČEZ ranks among the top 10 largest utility companies in Europe both in number of customers and in market capitalization. Vattenfall said last September it was selling its German lignite (brown coal) and related assets and would focus on renewable energy sources.

“These assets represent an interesting opportunity to expand ČEZ’s business of ČEZ in a neighboring region. In Europe where coal is still crucial for the overall energy supply, ČEZ has extensive know-how in operation of conventional power plants and of lignite mining, as a bridge technology to more renewable energy sources,” ČEZ spokeswoman Barbora Půlpánová said in a press release.

ČEZ submitted a non-binding offer for all the assets on sale, including hydropower plants. The sale includes four power plants, five mines and 10 hydroelectric plants. The power plants are Boxberg, Jänschwalde, Schwarze Pumpe, and Lippendorf. The mines are Jänschwalde, Nochten, Reichwalde, Welzow-Süd, and Cottbus Nord. The 10 hydroelectric plants, meanwhile, cannot be sold separately, without the lignite assets.

Environmental group Greenpeace also expressed an interest in the Vattenfall’s German operations.

Train station in Berlin, Germany (Borja Iza, CC BY-NC)

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