• Sweden's news in English
 
app_header_v3
Greenpeace bids for Vattenfall coal takeover
Vattenfall's Brandenburg plant in Germany. Photo: Patrick Pleul/picture-alliance/dpa/AP Images/TT

Greenpeace bids for Vattenfall coal takeover

AFP/The Local · 20 Oct 2015, 15:47

Published: 20 Oct 2015 15:47 GMT+02:00

The Swedish branch of the environmental group offered no money to the state-owned company, arguing that the lignite mines and power plants in eastern Germany are in fact a liability.

"The brown coal must stay in the ground," said Greenpeace, adding it would submit a formal statement of interest to Citigroup, which is handling the sale.

Greenpeace said it hoped to transfer the operations into a charitable foundation, paid for by Vattenfall and the German and Swedish governments, in order to phase them out by 2030.

"We don't want to pay any money for it, it's worth nothing," said the head of Greenpeace Energy, Nils Müller.

The group claimed that the net value of the business until 2030 would be €500 million – but that the bottom line goes deep-red, to around €2 billion, once social and environmental costs are factored in.

These included decommissioning the plants and greening the open-cast mines, aside from the impact of pollution on public health and the climate.

"Those who ignore the enormous costs resulting from dirty coal expect that someone else pays them – most likely the German state and its taxpayers," said Annika Jacobson, head of Greenpeace Sweden.

"The cost for society is many times higher than the profit any operator could make."

READ ALSO: Greenpeace mulls Vattenfall plant takeover

The Vattenfall sites include the power plants Jaenschwalde and Schwarze Pumpe in eastern Brandenburg state and Boxberg and part of Lippendorf in Saxony.

Vattenfall has written down their value, given falling wholesale power prices as a result of Germany's transition toward renewable energy.

Story continues below…

Two others are reportedly in the running to buy the operations, the Czech energy groups CEZ and EPH.

Vattenfall has said it would consider all serious offers, but the proposed model looked unlikely to win the backing of German politicians who have plegded to keep jobs in the region.

Jacobson said the group's plan "ensures that the lignite remains buried and that activities are dismantled as soon as possible, but without jeopardizing the social structures and energy supply", promising "a participatory process" with communities.

"We need the political will from governments," she said.

For more news from Sweden, join us on Facebook and Twitter.

AFP/The Local (news@thelocal.se)

Today's headlines
Video
The top reactions to Swedish high heels handyman video
Andersson was in agony after a day of laying floors in high heels. Photo: Emil Andersson

What did The Local's readers think about this viral clip challenging sexist beauty ideals?

Transport authorities call for probe into tech glitch
SAS aircraft grounded at Arlanda airport last week. Photo: Johan Nilsson/TT

But officials say it was not sabotage that caused last week's network failure, which knocked out large parts of Swedish air traffic.

Why northern Swedes get the hots for sex toys
File photo of handcuffs. Photo: Gunnar Lundmark/SvD/TT

Where in Sweden do people buy the most sex toys? Kiruna in the far north, apparently.

Royal baptism day for Sweden's Prince Oscar
Prince Oscar with Archbishop Antje Jackelén. Photo: Jonas Ekströmer/TT

UPDATED: Royalty, dignitaries and other esteemed figures took to Stockholm's Royal Chapel for the ceremony.

Giant replica of Swedish 18th century ship up for sale
The Götheborg setting sail from Stockholm in 2008. Photo: Claudio Bresciani / TT

A replica of a doomed Swedish merchant vessel that sank in 1745 within sight of its home port of Gothenburg has been put up for sale.

Border checks
First migrants make it from Denmark to Sweden on foot
The Öresund bridge between Sweden and Denmark. Photo: Erland Vinberg/TT

Dozens of attempts have been made, but this is the first successful crossing since Sweden introduced ID and border checks.

Brexit
Poll: Swedes are worried about Brexit consequences
The possibility of Brexit has Swedes worried about the EU's future. Photo: Lars Pehrson/SvD/TT

Swedes are worried about what may happen both at home and abroad if Britain votes to leave the EU in June.

The Local Recipes
Fend off the bad weather with a Swedish beetroot salad
Beetroot salad with cumin and feta. Photo: John Duxbury/Swedish Food

Rain, rain, go away.

How a Swedish rocker saved the life of this cute baby elk
Erik Brodén's daughters Tyra and Brita with the elk baby. Photo: Private

Probably the sweetest story you'll read today.

Man sentenced over dinner party murder in west Sweden
The man during a preliminary court hearing last year. Photo: Björn Larsson Rosvall/TT

He stabbed his friend at a dinner party and attempted to kill two others.

Sponsored Article
How to find student housing in Malmö: 5 tips
Gallery
The best, cutest and funniest snaps from Prince Oscar's christening
Sponsored Article
Can you afford to live in Stockholm? (Hint: yes)
Travel
Is this town the best place in Sweden?
Gallery
People-watching: May 25th
Blog updates

27 May

Editor’s blog, May 27th (The Local Sweden) »

"Hej readers, Would you spend a day doing manual labour in high heels? That’s what Swedish…" READ »

 

17 May

What about “att”? (The Swedish Teacher) »

"Hej! It often seems like the small words are the ones that cause the most confusion.…" READ »

 
 
 
Sponsored Article
'Sweden gives artists the space to follow their dreams'
Society
WATCH: Why Swedish handyman wore pink high heels for feminism
Sponsored Article
Stockholm makes it easier for refugees to meet startups
Sport
LIST: Top-ten ridiculous things Zlatan has compared himself to
Business & Money
Why Swedes don't want the euro
Fastighetsbyrån
Gallery
Property of the week: Vika, Falun
Sponsored Article
Food, fun, and reliable sun: Summer in Dubrovnik
National
Is this the most Swedish tattoo ever?
Sponsored Article
How Stockholm startups help new employees feel at home
Gallery
People-watching: May 20th-22nd
National
How to really annoy a Swede abroad
Sponsored Article
'Only soft power can defeat radicalism'
National
How this war veteran is warming hearts in Sweden
Sponsored Article
Why Stockholm attracts so many successful researchers
Gallery
People-watching: May 18th
National
How this Swede's viral ad totally nailed Stockholm's housing crisis
Gallery
Property of the week: Vasastaden, Gothenburg
Sponsored Article
'Sweden gives artists the space to follow their dreams'
Lifestyle
The best Swedish cities for dating
Sponsored Article
Retiring abroad: ensuring your health is covered
Gallery
People-watching: May 13th-15th
Sponsored Article
Can you afford to live in Stockholm? (Hint: yes)
Culture
BLOG: Eurovision as it happened
National
Why a 116-year-old Swede isn't the world's oldest woman
National
Youth unemployment falls in Sweden
Gallery
People-watching: May 11th
Gallery
People-watching: May 6th-8th
Politics
Why Sweden's Greens are in free fall
National
Can these cartoon Swedes help foreigners blend in?
3,381
jobs available
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
psdmedia.se