By Michael Kahn, Jason Hovet and Arno Schuetze PRAGUE/FRANKFURT (Reuters) – Two Czech power companies are targeting fossil fuel-fired plants in Germany as part of a contrarian strategy to snap up older, polluting assets on the cheap from European energy giants going green. EPH and Seven Energy have submitted rival offers for French group Engie’s <ENGIE.PA> plants near Munich and Bremen, as well as its 52 percent stake in a plant in Wilhemshaven, according to two utilities banking sources familiar with the matter. The assets are expected to fetch a few hundred million euros in total, they said. EPH and Seven Energy both told Reuters they were interested in acquisitions in Germany, but declined to comment on whether they had bid for the Engie plants. Engie declined to comment. The Czech firms, both backed by billionaires, have no links with each other, but share a common game plan: they are looking to buy up old coal and gas-fired plants being discarded by big players like Engie, Vattenfall [VATN.UL] and EnBW <EBKG.DE> who are trying to set themselves up for the future by switching to renewable generation. Fossil fuel, or thermal, power still accounts for almost half of the EU’s electricity…. Read full this story
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