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LEAG, Germany’s second-largest electricity producer, has taken significant steps in its organizational restructuring to position itself for the future energy landscape. The supervisory boards and general meetings of Lausitz Energie Bergbau AG (LE-B) and Lausitz Energie Kraftwerke AG (LE-K) have approved the implementation of these changes under corporate law, building on the foundational principles already established in April. This strategic shift is driven by the impending coal phase-out, set for 2038, and aims to maintain LEAG’s competitiveness in its core and emerging markets. As coal-fired power generation will only remain a part of LEAG’s core markets until the phase-out, the company is aligning its operations to become a “leading provider of sustainable energy solutions.” New Organizational Structure LEAG’s transformation involves the creation of a new holding company, LEAG GmbH, based in Cottbus. This umbrella organization will oversee a range of operational divisions. The new entity, LEAG Gigawatt GmbH, will manage the company’s expanding portfolio, which includes three independent subsidiaries: LEAG Renewables GmbH: Focused on the development, construction, and operation of wind and photovoltaic systems. LEAG Clean Power GmbH: Dedicated to projects in battery storage, innovative power plants, and hydrogen solutions. LEAG Biomass GmbH: Merging the production and sales of wood pellets through LEAG Pellets GmbH (Germany) and Scandbio AB (Sweden).Additionally, LE Finance GmbH will play a critical role in managing project financing for these initiatives. Flexibility and Future Energy Solutions This restructuring is designed to enhance LEAG’s agility, allowing the company to better respond to evolving market conditions. CEO Adi Roesch emphasized that the focus is on meeting Germany’s energy security needs both now and in the future, with a particular emphasis on large-scale storage facilities, hydrogen-capable power plants, green power generation on a gigawatt scale, and biogenic fuels. The existing subsidiaries, Lausitz Energie Bergbau AG and Lausitz Energie Kraftwerke AG, which are set to phase out in the coming years, will remain integral parts of the new structure. Their activities will be consolidated under Lausitz Energie Verwaltungs GmbH, ensuring compliance with legal requirements related to mining area reuse and compensation for mining-related damages. Social Commitment and Employee Transition LEAG’s transformation also includes measures to safeguard jobs within the lignite sector. The company has introduced a “future agreement” in collaboration with works councils and the IG BCE union to ensure the socially responsible implementation of restructuring measures. This agreement aims to provide new career prospects for young employees while securing existing employment in the transition period. Through this restructuring, LEAG is reinforcing its commitment to sustainable energy solutions while supporting the workforce through a clear, socially acceptable transformation process. |
