Brand new German coal plant worth just 1 Euro

The new hard coal plant going up in Hamm, Germany, is apparently worthless and may never go into operation.

In mid-July, German media reported (in German) that 23 municipal utilities wanted to sell their stakes in Hamm D and E, which have a collective capacity of 1.6 gigawatts. RWE made them a surprising offer: €1 per municipal for their entire holdings – initially worth €2.5 billion (report in German). In other words, the €2.5 billion stake is now worth 23 euros.

>more> RenewEconomy

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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