German utility E.ON SE (EOAN.XE) said Wednesday it has agreed to sell an opencast lignite coal mine and a power plant to a wholly-owned subsidiary of Czech energy investor EPH for an undisclosed price.
German utility E.ON SE (EOAN.XE) said Wednesday it has agreed to sell an
opencast lignite coal mine and a power plant to a wholly-owned subsidiary of
Czech energy investor EPH for an undisclosed price.
MAIN FACTS:
-The EPH unit Mibrag will take over the business, which comprises the Buschhaus
lignite-fired power plant and the opencast mine in Schoeningen, eastern
Germany
.
-The lignite-fired power plant has a capacity of around 390 megawatt and was
commissioned in 1985.
-E.ON had originally planned to cease operation of the Buschhaus power plant
once the deposits in the adjoining Schoeningen opencast mine were exhausted
around 2017.
-Following the transaction with E.ON, Mibrag will continue to operate the power
plant, supplying it with lignite from one of its other mines, know as the
central German coalfield.
-The companies expect the transaction to be completed by the end of 2013.
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