Greenpeace plans to buy coal mines

Greenpeace has announced plans to buy German coal mines in order to shut them down.

The group is currently exploring its funding options to buy major European energy generator Vattenfall’s brown coal mines and power plants, according to Bloomberg.

The operator has approximately ten coal assets in the country, with mines and power plants valued at around two to three billion euros.

“All Vattenfall’s lignite generation and mining assets in Germany will be included in the sale; power plants Boxberg, Jänschwalde (which is the largest power plant in Germany), Schwarze Pumpe and Lippendorf block R as well as corresponding mining activities (Jänschwalde, Nochten, Reichwalde, Welzow-Süd and Cottbus Nord),” Vattenfall said in a company statement.

“There are many ways to finance such an acquisition and we are looking at those,” Annika Jacobson, Greenpeace Sweden’s programme manager, said.

Greenpeace “may also look at the possibility of buying strategic parts,” she added.

“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.”

She went on to state the group’s intention to keep the lignite coal in the ground.

It is considering using crowd-funding or donor money to raise the necessary money to carry out the acquisition.

“Mostly, we would believe it would be our supporters who would be interested in such an acquisition to save the climate," Juha Aromaa, a Greenpeace spokesman, said.

Following this announcement, Vattenfall stated that it would be open to all potential buyers, and “all serious bids are welcome”.

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