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Publish Date : 07-Jan-2014

The acquisition of German brown coal-fired power plant Buschhaus and adjacent coal mine Schoeningen from Germany's E.ON is completed by the Czech company EP Energy, a unit of energy and industrial group Energeticky a prumyslovy holding (EPH).

EP Energy finished the transaction through subsidiary Mibrag on December 20. The value of the deal had not been revealed. The Buschhaus power plant has an installed capacity of 390 megawatts (MW).

EP Energy after the closure of the Schoeningen mine scheduled for 2017 will be able to prolong the operation of the Buschhaus power plant considerably thanks to supplies of brown coal from its Mibrag mines.

The aggregate installed capacity of the power plants possessed by EP Energy in Germany will go beyond 900 MW after the purchase of the Buschhaus power plant.

Buschhaus had been the largest producer of carbon dioxide (CO2) emissions in Germany until its modernisation. The power plant's landmark 307-metre-tall chimney is the highest in the country.

Buschhaus produces around 2.5 billion kilowatt hours (kWh) of electricity yearly.

Germany is scheduling to close all its nuclear power plants by 2022. Energy companies thus believe that coal-fired facilities have a future as they will be indispensable for maintaining the stability of German transmission grids.

Electricity produced by burning brown coal now covers 26 percent of consumption in Germany. EPH includes over 30 companies that operate in coal mining, electricity and heat generation, heat distribution, and electricity and gas trade.

The PPF group of billionaire Petr Kellner said that it would sell its 44.44-percent stake in EPH. It will get about EUR1.1bn (about Kc30bn) from EPH's remaining shareholders Daniel Kretinsky, Patrik Tkac and the J&T group.

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