coal

The acquisition is a part of Greenpeace’s effort to ensure that the Vattenfall’s five new planned mines are not opened or passed on to other companies.

Greenpeace said that the new mines are estimated to hold 1.2 billion tons of CO2 and they should better remain underground.

The offer follows a tender floated by Vattenfall in September for selling the lignite-fired plants as well as corresponding mining activities in Germany.

Vattenfall had announced in July to write the value of the assets worth about $1.8bn blaming slump in power demand as Germany is moving to renewable power.

Greenpeace Sweden program manager Annika Jacobson said: "Greenpeace is taking concrete action on behalf of the climate by showing its interest in Vattenfall’s lignite activities.

"The Swedish government cannot contribute to an acquisition by a buyer that would continue to burn enormous amounts of coal. This is a signal Sweden cannot give before the Paris climate conference."

"We will have a serious discussion with Vattenfall on the acquisition. We have a thorough knowledge on the future of the energy market and on climate politics."

The divestment comes in line with Vattenfall’s strategy to transform its production portfolio and focus on sustainable energy production with Denmark as its core market.

As part of this effort, Vattenfall agreed to sell its last fossil fuel asset in June in Denmark, Nordjylland combined heat power plant, to district heating company Aalborg Forsyning, for DKK823m ($123.4m).

The company also sold two of its coal-fired power plants, Amager power station and Fyn Power Station, in 2013 and 2014, respectively.


Image: Protest at Vattenfall’s coal power plant in Jänschwalde, Germany in August 2015. Photo: courtesy of Greenpeace.