Utilities and investors plan to spend $79bn to build and modernize power plants in Germany as the country closes its nuclear reactors over the coming decade.

The 84 projects, of which 69 are at least in the permitting stages and scheduled to start operating by 2020, have a combined capacity of 42 056 MW, the BDEW said in an e-mailed statement.

Angela Merkel

They include 23 sea-based wind farms, 29 gas fired stations, 17 coal generators and 10 hydro-power pump stations, it said.

While the investments by companies including EON AG (FWB: EOAN), RWE AG (RWE) and Iberdrola SA (IBE) are positive for Germany’s future energy mix, “this shouldn’t hide the fact that there are obstacles not just for renewable power but also coal and gas-to-power projects,” Hildegard Mueller, the head of the BDEW, said in the statement.

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