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Bold plan to buy Europe’s coal plants, retire them and go renewable

News this week that four out of five coal plants in Europe are no longer profitable, with combined losses up to €6.6 billion, could see governments buying coal units with green bonds, to retire them early. This is the idea floated as a remedy by Carbon Tracker, who wrote the report. Instead of coal owners hanging on forever to eke out an existence on their stranded assets, all the while spewing CO2, this move by governments could be decisive – conditional upon the same companies using the money purely on renewables. It is a way of getting coal owners off fossil fuel addiction. The report from Carbon Tracker, under the name ‘Apocoalypse Now’ was released on Thursday, indicating that lower…

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