HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Environment & Energy » Environment & Energy (Group) » EON Invests $9 Billion in...
Introducing Discussionist: A new forum by the creators of DU

Sat Dec 17, 2011, 11:44 AM

EON Invests $9 Billion in Renewables as Germany Drops Nuclear [View all]

http://www.bloomberg.com/news/2011-12-15/eon-invests-9-billion-in-renewables-as-germany-drops-nuclear-generation.html

EON AG, Germany’s biggest utility, said it’s investing 7 billion euros ($9.1 billion) in renewable energy projects over the next five years as the country drops nuclear power generation.

EON plans to build at least three offshore wind projects, including the 1 billion-euro Amrumbank West farm in the North Sea, Dusseldorf-based EON said in an e-mailed statement today. Siemens AG, Europe’s biggest engineering company, will supply the the 288-megawatt plant with 80 of its turbines.

“Renewables are a cornerstone of our strategy, and offshore wind is one of EON’s growth areas,” Chief Executive Officer Johannes Teyssen said in the statement. “We intend to commission a new offshore wind farm every 18 months.”

Germany, Europe’s biggest economy, seeks to install 10,000 megawatts of sea-based wind turbines this decade as it raises the share of renewables and phases out atomic energy. Utilities including EON and RWE AG (RWE) are selling assets and cutting jobs to lower costs and boost profit margins as the nuclear exit removes revenue streams.

<more>

5 replies, 688 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 5 replies Author Time Post
Reply EON Invests $9 Billion in Renewables as Germany Drops Nuclear [View all]
jpak Dec 2011 OP
kristopher Dec 2011 #1
FBaggins Dec 2011 #2
kristopher Dec 2011 #3
FBaggins Dec 2011 #4
kristopher Dec 2011 #5