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Aug 28, 2015

RWE Innogy near $2 billion UK Galloper wind park deal

FRANKFURT (Reuters) – Germany’s RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) is close to striking a financing deal for its planned 1.3 billion-pound ($2 billion) Galloper UK offshore wind park project, according to one of its executives, as the utility’s expansion in renewable energies gathers pace.

“The plan is to have a deal in autumn, either October or November,” Hans Buenting, chief executive of RWE’s renewables unit Innogy told Reuters, adding it was planning a cooperation with three partners, whom he said he was not authorized to name.

Aug 28, 2015

RWE Innogy near 1.3 billion-pound UK Galloper wind park deal

FRANKFURT (Reuters) – Germany’s RWE (RWEG.DE: Quote, Profile, Research) is close to striking a financing deal for its planned 1.3 billion-pound Galloper UK offshore wind park project, according to one of its executives, as the utility’s expansion in renewable energies gathers pace.

“The plan is to have a deal in autumn, either October or November,” Hans Buenting, chief executive of RWE’s renewables unit Innogy told Reuters, adding it was planning a cooperation with three partners, whom he said he was not authorised to name.

Aug 26, 2015

Germany’s E.ON banks on U.S. in renewables expansion

BERLIN (Reuters) – Germany’s E.ON plans to expand its solar and wind business in the United States, an executive said, as the utility strives to bolster its renewable energy operations ahead of a planned spin-off of its ailing fossil-fuel power plants.

E.ON took markets by surprise last year when it announced it would split in two, spinning off its fossil-fuel-based power plants, energy trading unit and oil and gas activities into a separate unit, Uniper, in 2016.

Aug 26, 2015

E.ON targets United States in solar push

BERLIN (Reuters) – Germany’s biggest utility E.ON aims to aggressively expand its solar business and is banking on the United States where President Barack Obama has pledged to promote renewables in a bid to fight climate change.

E.ON, which has spent about 10 billion euros ($11.50 billion) on renewable since 2007, has a pipeline of around one gigawatt (GW) of solar in the United States, Michael Lewis, chief operating officer of E.ON’s renewable unit, said.

Aug 25, 2015

Germany’s Senvion eyes new markets in expansion drive

BERLIN, Aug 25 (Reuters) – German wind turbine maker
Senvion, which was snapped up by buyout group Centerbridge
Partners in January, could expand into new markets such as
Chile, Peru and India as part of its drive to grow sales and
improve margins, its chief executive said.

“Why has Centerbridge decided to buy us? Because we’re a
successful company with growth potential,” Andreas Nauen told
Reuters in an interview on Tuesday, adding the group was
currently discussing which markets to enter.

Aug 24, 2015

RWE replaces top management at UK unit after operations problems

FRANKFURT, Aug 24 (Reuters) – Germany’s RWE has
ousted the top management at npower following operational
problems at the British unit that sent RWE shares to their
lowest levels in 24 years this month.

Npower cut its guidance in mid-August, blaming problems in
its billing process which prevented it from properly charging
clients as well as growing competition that caused more clients
to switch to competitors.

Aug 13, 2015

Problems at UK’s npower hits RWE’s profits

FRANKFURT, Aug 13 (Reuters) – Britain was added to RWE’s
long list of woes on Thursday, as Germany’s
second-biggest utility said problems with billing at its npower
supply business and a loss of customers hit first-half profits.

It said it now expected UK operating profits to be
significantly below last year’s 227 million euros ($253
million). It had previously expected profits to rise moderately.

Aug 12, 2015

E.ON offers to work with German government on nuclear shutdown

FRANKFURT, Aug 12 (Reuters) – German utility E.ON
said it was prepared to work with the government on shutting
down the country’s nuclear energy industry, seeking to safeguard
its plan to split itself into two separate companies.

Germany plans to close its last nuclear plant by 2022 and
the government is anxious to ensure that utility companies pay
their share of the costs.

Aug 10, 2015

Germany’s RWE slims structure, keeps options open on break-up

FRANKFURT, Aug 10 (Reuters) – RWE, Germany’s
largest power producer, will simplify its local businesses,
expand senior management to get a better handle on areas such as
networks and renewables and will not rule out an E.ON-style
break-up at some stage.

“I hope that that’s not going to happen, it’s not our
preferred option,” Chief Executive Peter Terium told reporters.
But he said the group kept open the option for a broad overhaul.

Aug 7, 2015

German liability law change would challenge E.ON’s spin-off logic

FRANKFURT/BERLIN, Aug 7 (Reuters) – E.ON’s bold
move to spin-off its ailing power plants could be dealt a blow
before it has even been made by a law that aims to prevent
German utilities from evading the payment of billions of euros
needed to fund the country’s nuclear exit.

Germany’s economy ministry is preparing a law that it says
will “increase the legal certainty (for nuclear liabilities)
during company reorganisations”, seeking to close a loophole
that could allow utilities to avoid 38.5 billion euros ($42
billion) in nuclear provisions.

    • About Christoph

      "I'm responsible for the coverage of German renewable companies, mainly solar, at Reuters News. Previously, I have worked as a correspondent at Thomson Financial News, covering German technology and construction companies."
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