News
26 Apr 2019, 13:03
Kerstine Appunn

Waste company Remondis could buy parts of ailing utility Steag

WirtschaftsWoche

Utility Steag, which operates one of Germany’s largest coal plant fleets could find a new partial owner in waste company Remondis, Angela Hennersdorf reports for WirtschaftsWoche. Steag, which is owned by several western German cities, is suffering from falling earnings, posting a 20 percent reduction in revenue in 2018. By the mid 2020s, Steag’s shareholders have to find 400 million euros to ensure follow-up financing, but some municipal investors such as Oberhausen and Dinslaken want to get rid of their shares instead, Hennersdorf writes. If Remondis were to buy the cities’ shares, it could become a major owner, together with the city of Dortmund which is holding 36 percent of the shares. Both Steag and Remondis did not comment on the plans.

The large German utilities have seen their business models suffer under the energy transition, amid significant growth in decentralised renewable power in the past decade, the phase-out of nuclear power, and government plans to abandon coal-fired power production.

All texts created by the Clean Energy Wire are available under a “Creative Commons Attribution 4.0 International Licence (CC BY 4.0)” . They can be copied, shared and made publicly accessible by users so long as they give appropriate credit, provide a link to the license, and indicate if changes were made.
« previous news next news »

Ask CLEW

Sören Amelang

Researching a story? Drop CLEW a line or give us a call for background material and contacts.

Get support

+49 30 62858 497

Journalism for the energy transition

Get our Newsletter
Join our Network
Find an interviewee