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European Commission approves German hard coal exit tender

FRANKFURT (Reuters) - The European Commission on Wednesday green-lit a scheme under which operators of hard coal-fired power plants in Germany will be paid to shut down their stations earlier in the wake of the country’s accelerated exit from the fuel.

“Phasing out hard coal-fired power plants contributes in a crucial way to the transformation to a climate-neutral economy, in line with the European Green Deal objectives,” European Competition Commissioner Margrethe Vestager said in a statement.

Reporting by Christoph Steitz; Editing by Maria Sheahan

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