Steag applies for a higher KfW credit line for the purchase of coal

As the “Rheinische Post” (Saturday) reported, the credit line at the KfW development bank is to be expanded from the previous 400 million euros to 1.28 billion euros. This emerges from a document to the budget and finance committee of the North Rhine-Westphalian state parliament, which the newspaper has available.

Due to fears of a power shortage this winter, Steag is temporarily putting the two hard coal-fired power plants in Bexbach and Weiher back into operation. In addition, the power plants in Völklingen (Saarland) and Bergkamen (NRW), which were originally supposed to be shut down at the end of October, will remain connected to the grid.

According to the “Rheinische Post” report, Steag has applied for the extension of the term of the existing KfW credit line of 400 million euros by six months. In addition, this credit line is to be increased by a further 400 million euros and a new KfW credit line of 480 million euros is to be added. The state of North Rhine-Westphalia would have to guarantee a quarter of the total amount, 320 million euros.

A Steag spokesman did not want to comment specifically on the application. When asked by the dpa, he said: “We welcome the fact that the political decision-makers in NRW are supporting Steag in temporarily moving four hard coal-fired power plants to the electricity market return and thus make a contribution to securing the energy supply in Germany.” Coal must now be procured for the plants, and securities must be deposited for this, the spokesman added.

DUSSELDORF/ESSEN (dpa-AFX)

Image sources: Natalia Siverina / Shutterstock.com, Sally Wallis / Shutterstock.com

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