Germany’s RWE to Win EU Approval for €2.6 Billion Coal Phase Out Aid
- EU set to approve RWE billions for coal phase out next week
- Funds cover costs for mine rehabilitation and closures
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RWE AG will receive €2.6 billion ($2.8 billion) in compensation from the German government for its accelerated phase-out of coal from its energy systems, with European Union regulators set to approve the state aid support.
The multi billion euro package will be paid out over 15 years and covers costs for RWE’s mine rehabilitations and closures. The EU’s approval of the German support could come as soon as Monday, according to people familiar with the matter, following a formal investigation that began in 2021.