Guide: The German utility Rheinland Group RWE hopes that the government will issue compensation for the phase-out of coal-fired power generation as soon as possible.
The German utility Rheinland Group RWE hopes that the government will issue compensation for the phase-out of coal-fired power generation as soon as possible.
A company spokesperson said: "RWE wants to ensure that the contract negotiated with the government can be signed immediately, because unlike other operators, RWE will close its first power plant at the earliest by the end of this year."
It is expected that the German House of Commons will approve the relevant bill next month.
The bill promises to pay 50 billion euros ($59 billion) to help mining companies, power plant operators and related regions cope with Germany’s transition to more renewable energy. The country has pledged to reduce greenhouse gas emissions by 55 percent from 1990 levels by 2030.
Among them, RWE will receive 2.6 billion euros to gradually close its lignite coal mines and power stations.
While phasing out coal production, RWE is expanding the development of renewable energy. After reaching an asset exchange agreement with rival E.ON, RWE has become the third largest energy producer in Europe.