• 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
Brexit vote
Sweden wants UK to move quickly towards exit
Prime Minister Stefan Löfven after Monday's meeting. Photo: Johanna Johansson/TT

"We can’t have the EU in limbo for too long," said the Prime Minister.

Brexit vote
UK can't cherry-pick EU rules, says Sweden
Finance Minister Magdalena Andersson following the meeting on Monday. Photo: Anders Wiklund/TT

Finance Minister Magdalena Andersson commented on the consequences of Brexit after a meeting with Swedish businesses on Monday.

Why this Swedish canal was filled with dead rats
Removing dead rats from a canal: not the easiest summer job. Photo: Johan Nilsson/TT

Over 140 dead rats were removed from Malmö's canals on Monday.

Is this Swede the new Vincent van Gogh?
Ivar Arpi (left). Photo: Tomlin Studio

He's winning a worldwide competition to find the person who most resembles the Dutch master.

Brexit vote
Swedish stock market plummets in Brexit aftermath
The Stockholm Stock Exchange felt the full force of Brexit on Monday morning. Photo: Tomas Oneborg/SvD/TT

Monday is the first day of trading in Sweden since Britain voted to leave the European Union, and negative effects are already being felt, with stocks down by almost five percent at lunchtime.

Brexit: Sweden’s leaders meet for talks about 'our friend'
Ebba Busch Thor outside the PM's office before Monday morning's talks. Photo: Christine Olsson/TT

“The UK is our friend and we have to respect the decision.”

Brexit vote
Poll: Sweden still wants to stay in EU after Brexit vote
Most Swedes polled don't want a referendum on EU membership. Photo: Henrik Montgomery/TT

A post-Brexit poll shows that the majority of Swedes would still vote to stay in the EU.

My Swedish Career
'I was only supposed to stay in Sweden for a few months'
Dan Paech, the founder of Run With Me Stockholm. Photo: Private

Meet Dan Paech, 31, the Australian who found his entrepreneurial path in Stockholm.

Sweden murder probe after refugee centre death
One person had been detained and other potential witnesses were being questioned. Photo: TT

Swedish police on Sunday launched a murder investigation after a young woman was found dead at a shelter housing asylum-seekers.

Sweden trials electrified highway for trucks
The truck draws power as it moves at speeds of up to 90km/h (56mph) while putting out no emissions. Photo: Scania AB

The Swedish truck firm Scania, in partnership with German engineering company, Siemens, is developing the world’s first “eHighway”, a four kilometre stretch of highway north of Stockholm.

Sponsored Article
5 reasons you should try dating with The Inner Circle
International
'A morning of sorrow': Sweden reacts to Brexit vote
Sponsored Article
How to find student housing in Malmö: 5 tips
International
Sweden opposition cools talk of 'Swexit' poll
International
'Devastated' - Brits in Sweden shocked by Brexit vote
Blog updates

17 June

Queen’s Birthday Stockholm 2016: 9th June. 90th Birthday. 900 Guests! (The Diplomatic Dispatch) »

"What do you do when you read that the Queen’s 90th Birthday in London will be…" READ »

 

10 June

i lördags, på lördag – time phrases for present, past and future (The Swedish Teacher) »

"Hejsan! Swedish time phrases can be difficult to master. It takes a lot of practice to…" READ »

 
 
 
Sponsored Article
Stockholm school celebrates Nepal Project success
Gallery
People-watching: June 22nd
Sponsored Article
Why you should attend an international job fair
Private
The Local Voices
'Swedes don't treat me differently because I wear a hijab'
Culture
How do Swedes celebrate Midsummer?
Culture
Coming soon: Sweden’s smelly fermented fish
Sponsored Article
Avoid hidden fees when sending money overseas
National
Assange lawyer: Sweden should recognize UN opinion
Private
The Local Voices
Why is this Syrian dentist who hugs like a Swede worried about undies?
Swedish nationalist 'shot and ate' lion and giraffe
Sponsored Article
Education abroad: How to find an international school
Analysis & Opinion
'Sweden's residency revamp is harmful and inhumane'
Sponsored Article
The man behind Sweden's biggest music festival
Photo: The Local
The Local Voices
UNHCR boss: 'It's hard to start your life without your family'
Politics
VIDEO: Brits in Europe say why UK should stay
Sponsored Article
US expats: Have you met your tax deadlines?
Photo: Marko Risović
The Local Voices
World Refugee Day: Searching for safety in Europe - in pictures
Sponsored Article
Malmö: Home to the best food in Sweden?
National
Is Swedish nationalists’ foreign food ban bananas?
Sponsored Article
VIDEO: Why Malmö is the world's 6th best city for biking
Gallery
Property of the week: Söråker
Sponsored Article
5 reasons you should try dating with The Inner Circle
International
Poll shows huge support for EU in Sweden
The Local Voices
How a Syrian scuba diver mobilized Sweden's biggest asylum centre
Sponsored Article
6 simple travel hacks that will make your life easier
Sport
Zlatan: 'If we'd been fighting for real, he'd be in hospital'
The Local Voices
Orlando reflections: Is it possible to be gay and Muslim?
Sweden to go ahead with migrant age tests
Gallery
People-watching: June 17th-19th
National
Will you be hit by changes to Sweden's residency laws?
3,325
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