The complete withdrawal of power utility PPC’s lignite-fired power stations by 2028, when Greece is expected to have decarbonized, according to a recent goal set by Prime Minister Kyriakos Mitsotakis, will cost an estimated four billion euros, if an approximation prepared by German electric utilities company RWE for Germany’s decarbonization effort is locally applied.

RWE has estimated Germany’s lignite withdrawal plan will cost 1.2 billion euros per 1,000 MW withdrawn from the system.

To achieve full decarbonization by 2028, Greece will need to withdraw 3.4 GW of lignite units.

The head of RWE, Rolf Martin Schmitz, who met with the Greek leader last week, expressed the Germany company’s interested to collaborate with PPC for joint development of RES projects and also provide expertise for the Greek utility’s withdrawal of lignite units.

RWE, which has already withdrawn some of its older lignite-fired units, remains Europe’s biggest polluter as it still maintains the continent’s largest lignite portfolio. RWE is currently negotiating its lignite withdrawal plan with the German state.