Special Report-Germany Approves Compensation for Lignite Operators
- December 16, 2020
- Posted by: Quatro Strategies
- Category: Mining
The German government approved a contract that compensates the lignite-fired power plant operators. The deal was made because Germany targets to completely dispose of coal by 2038. The compensation covers a total of €4.35 bn. in payments. The agreement also waives the operators’ rights for future lawsuits if they sign it.
RWE and Leag are the biggest operators of lignite, also called brown coal, power plants and mines in Germany.
The European Commission said that it would launch a formal investigation for the agreement regarding competition.
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