BLBG:RWE to Invest 5 Billion Euros in Renewable Energy, Innogy Says
RWE AG (RWE), Germany’s second-largest utility, plans to invest about 5 billion euros ($6.4 billion) in renewable-energy ventures in four years as the country exits nuclear-power generation.
Projects include a 1 billion-euro offshore wind park in the German North Sea, as well as biomass plants and wind farms in the U.K. and Poland, Fritz Vahrenholt, chief executive officer of RWE’s Innogy renewables unit, said today at RWE’s headquarters in Essen. RWE plans to almost triple its wind-power capacity in Poland to 300 megawatts by 2015, he said.
Germany, Europe’s biggest economy, is seeking to install 10,000 megawatts of sea-based wind turbines this decade as it raises the share of renewables in the energy mix. EON AG, the country’s largest utility, said last month it will invest 7 billion euros in renewable-energy projects in five years.
To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
