Germany to phase out 533 MW of coal-fired power capacity

The German government is all set to phase out 533 MW of coal-fired power capacity and, in turn, reduce dependence on coal imports. The move to phase out coal-based power is in line with the country’s aim to abandon coal by 2030 and achieve carbon neturality by 2050. The government will allow compensation between EURO 75,000-116,000 per MW of capacity to be shut down.