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RWE to sell off European power plants

German utility RWE plans to sell several of its coal and gas-fired power plants both at home and abroad in order to raise capital to offset the financial loss imposed by the authorities’ decision to phase out nuclear power generation, a company spokeswoman confirmed on Tuesday.
By Andreas Walstad 9 August 2011 Europe & Russia / Companies & Finance 0 602

German utility RWE plans to sell several of its coal and gas-fired power plants both at home and abroad in order to raise capital to offset the financial loss imposed by the authorities’ decision to phase out nuclear power generation, a company spokeswoman confirmed on Tuesday.

The company was looking to sell its fossil fuelled power plants, not just in Germany, but also in the UK, Netherlands and in Turkey where it is building a 775 megawatt gas-fired power station in Denizli, said spokeswoman Annett Urbaczka....