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Tag Archives: STEAG

STEAG calls for fair remuneration for reserve power plants

In 2022, STEAG GmbH, Essen/Germany, brought around 2.5 GW of additional power plant capacity back onto the market. Of all the power plant operators, this was the biggest contribution to ensuring security of supply in Germany during the recent energy crisis. These plants are now being withdrawn from the market, but are to remain in the grid reserve. When the ...

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STEAG applies for decommissioning of Herne 4 power plant

Hard coal-fired power generation has been a tradition in Herne/Germany since the 1960s. Back then, the first power plant unit, Herne 1, went into operation. STEAG GmbH, Essen/Germany, continued this tradition with the commissioning of unit Herne 4 in 1989 – and continues to do so today. The plant, with a net generation capacity of 460 MW, can supply more ...

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STEAG heads for strong growth

At the full works council and delegates’ conference of the STEAG Group (Figure 1), Essen/Germany, Andreas Reichel, Chairman of the Management Board and Labor Director, made it clear that the forthcoming sale of the energy group to the Spanish infrastructure investor Asterion Industrial Partners means more scope for STEAG in shaping the energy and heat transition. Speaking to the participants ...

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STEAG’s future secured: Asterion takes over company as a whole

Kommunale Beteiligungsgesellschaft mbH & Co. KG (KSBG) has sold its stake in the energy company STEAG GmbH, Essen/Germany, to the Spanish infrastructure investor Asterion Industrial Partners. The boards of the owners have given their mutual consent to this and the contract has been signed and notarised accordingly (signing). The transaction volume amounts to approximately 2.6 bn €. This amount corresponds to the ...

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Climate-neutral by 2040

The STEAG Group, Essen/Germany, which since the beginning of the year has been divided into two separately operating companies, Iqony GmbH and STEAG Power GmbH, has presented its current Group sustainability report. In it, the energy company documents its commitment and guidelines in the areas of environmental, social, and corporate governance (ESG). Under the keyword “ESG”, a comprehensive set of ...

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STEAG ensures continuity at the top

At its meeting on 25th January 2023, the Supervisory Board of STEAG GmbH, Essen/Germany, appointed Ralf Schiele (Figure 1) as a member of the Management Board of STEAG GmbH for a further three years. Schiele has been a member of the STEAG management since October 2020 and is responsible for the Market and Technology division. His appointment as Chief Operating ...

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STEAG returns 2.5 GW additional power plant capacity to the market

STEAG GmbH, Essen/Germany, is returning both its hard coal fired power plants Bexbach and Weiher in Saarland from the grid reserve to the market. With a net rated capacity of 726 MW, the Bexbach power plant (Figure 1) is the largest STEAG plant in Germany, it’s sister power plant in Weiher has a capacity of 656 MW. Together, both power ...

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STEAG sells shares in foreign power plant

STEAG GmbH, Essen/Germany, sells a large part of the shares in its power plant on the Philippine island of Mindanao. The buyer is co-shareholder Aboitiz Power Corp (APC). STEAG had already announced last year that it wanted to sell its stake and initiated a sales process. As part of this process, Aboitiz has now exercised its right of first refusal. ...

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STEAG cooperation with ADNOC pays off

Part of the demonstration deliveries of carbon-reduced ammonia agreed in spring between the Abu Dhabi National Oil Company (ADNOC) and various German energy and chemical companies has arrived in Hamburg; the tranche destined for STEAG GmbH, Essen/Germany, will follow timely. Representatives of ADNOC, STEAG and other companies as well as government representatives of the United Arab Emirates and the Federal ...

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STEAG gains strength

The STEAG Group, Essen/Germany, can look back on a successful six-month period. In the first half of the current business year, the energy group achieved consolidated sales of 2.41 bn €. Earnings before interest and taxes improved to 386.1 M €, almost doubling the result for the entire previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) also increased significantly to 450 M €. ...

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