August 7, 2018 / 8:58 AM / 2 months ago

Uniper casts doubt over French business in light of coal exit

FRANKFURT, Aug 7 (Reuters) - German energy group Uniper on Tuesday warned that it would have to review its entire business in France if a planned shutdown of coal-fired power plants will be implemented.

French President Emmanuel Macron in November said the country would phase out all coal-fired stations by 2021.

“We couldn’t absorb a blow like this with our remaining business in France, which consists of renewables, gas-fired power plants, and energy sales, particularly since we just concluded a ten-year phase of restructuring and new investment,” finance chief Christopher Delbrueck said.

“In this case, we’d have to think seriously about Uniper’s future in France,” he told journalists during a call after the release of first-half results.

Uniper owns about 2,100 megawatt (MW) of installed capacity in France, of which 1,200 MW are coal. Along with French state-controlled utility EDF, it is the only operator of coal-fired power plants in the country. (Reporting by Christoph Steitz)

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