Repower green target in power companies

The green transition implies not only the change in power market, but also way of power industry functioning. Current power companies recorded losses in the market being under transition, where leaders of change are new, flexibles entities. The young managers, computer scientists, entrepreneurs strive to transit power industry in direction of climate-friendly power supplies. This approach becomes standard for all power market participants. The rigid and immobile, old-fashioned concern-based power companies should be shifted towards start-up culture. Hence, energy transition has the qualitative impact on power market functioning. The exit of companies from the coal-based energy power production makes them more resistant to the risks arising from the green transition. The one of the example of business model change in power industry is power company GDF Suez that acts under the name Engie at present. The global change of business environment, expected economy decarbonization and RES development convinced Engie to write off EUR 15 billons of fossil production assets in Europe just in 2013. Engie sold next year coal power plants in Poland, Germany and Netherlands. It confirmed the begin of change of fossil fuels into renewables in production portfolio of GDF Suez and it was reflected in purchase of RES investors Sameole and Langa. Engie plans to decommission owned coal power plants with capacity in 2021 of 4 GW in Europe, Africa and Latin America by 2027. New climate-friendly objective of Engie is to replace coal in cogeneration production by biomass. Swedish power company Vattenfall divested the lignite power plants as well, paying additional EUR 200 million to Czech company EPH for future reclamation of degraded areas. Finish company Fortum just in year 2018 identified the coal-fired power production as unprofitable in the future. Swiss Repower took over in Italy in cooperation with investment fund (joint venture) the wind and solar power producers with the capacity of 90 MW. Repower defined target for 2025 to be 100% based on RES production.