BERLIN—Germany’s largest power producer RWE said on Oct. 4 that it is bringing forward its coal phase-out date by eight years and is ready to end lignite-based electricity generation in 2030 as part of a deal reached with the German government.

“In the current crisis, we are contributing to security of supply in Germany by temporarily increasing the use of our lignite-fired power plants and are thus also helping to displace gas from electricity generation,” said RWE CEO Krebber in a statement.

“At the same time, we are investing billions of euros to accelerate the energy transition and are ready to phase out lignite by 2030,” he added.