Germany will provide compensations for coal-fired power plants with a combined capacity of 532.51 MW that will stop burning coal by May 22, 2023, the Federal Network Agency said on Wednesday.
The fourth tender meant to support the coal phase-out in the country enjoyed solid interest and the targeted capacity of 433 MW was oversubscribed.
Three bids won the auction with proposals ranging from EUR 75,000 (USD 84,817) to EUR 116,000 per megawatt. The largest power plant that will be shut down with support from the state is Uniper SE's (ETR:UN01) Staudinger Block 5 plant of 510 MW which is located in Grosskrotzenburg east of Frankfurt. The other two successful bids came from Pfeifer & Langen GmbH & Co. KG for two sites of 14.16 MW and of 8.35 MW.
Not all proposals were accepted.
In the first three tenders which took place over the last year, Germany provided support for the shutdown of 8.43 GW of coal power capacity. The next call for tenders is planned for March 1, 2022.
Under the new federal government that was sworn in earlier in December, Germany aims to phase out coal by 2030 instead of 2038 as earlier planned in an effort to accelerate its transition to green energy and meet its climate targets.
(EUR 1 = USD 1.131)
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