The Dutch government announced today that the power company Onyx Power has decided to keep its coal-fired plant in Rotterdam running longer than previously planned.
The government said Onyx had changed its mind about a deal announced in November that would close the plant within a few months in exchange for a 212.5m-euro subsidy.
“I am very disappointed with this decision, it is bad for the climate,” said Dutch Climate and Energy Minister Rob Geten in a letter to parliament.
The decision comes as the Netherlands and other EU countries seek alternative energy sources instead of Russian fossil fuels in the wake of the Russian invasion of Ukraine.
The Rotterdam site is one of four coal-fired power plants in the Netherlands, all of which will close by 2030.
But the government has also indicated that one of the four plants should close long before 2030, as the Netherlands struggles to meet its climate targets.
The current regulations limit the production of coal-fired plants to 35% of their production capacity.
The Netherlands, home to Europe’s largest port and many large industries, is one of the EU countries with the highest per capita greenhouse gas emissions.
Carbon dioxide (CO2) emissions in the country were 23.9% lower than in 1990 last year, while the country aims to reduce by 55% by 2030.
Onyx Power is owned by the investment company Riverstone Holdings, which in 2019 bought several coal-fired power plants in Germany and the Netherlands from the French utility company Engie.
SOURCE: ΑΠΕ-ΜΠΕ
Source: Capital

Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.