FRANKFURT, June 12 (Reuters) – Europe needs to step up
support for an ambitious plan to import cheap solar and wind
power from African deserts or face a jump in power prices on the
continent over the next few decades, the head of the Desertec
The Desertec Industrial Initiative (DII), a consortium set
up in Germany in 2009, envisages Europe could import up to a
fifth of its electricity from solar and wind parks in North
Africa and the Middle East by 2050, thereby saving 33 billion
euros ($43.8 billion) in costs per year.
FRANKFURT, May 15 (Reuters) – Reduced losses at its gas
trading business helped RWE to post a
smaller-than-expected fall in quarterly earnings and Germany’s
No.2 utility predicted “significant” benefits from a new deal
with main supplier Gazprom by mid-year.
The group, Europe’s biggest polluter thanks to its extensive
use of lignite, or brown coal, said quarterly earnings before
interest, tax, depreciation and amortisation (EBITDA) fell 3
percent to 3.04 billion euros ($3.95 billion), hit by sluggish
energy prices and falling margins in power generation.
FRANKFURT, May 10 (Reuters) – Planned European levies on
Chinese solar panels will only go some way to halt a rout among
equipment makers who face the paradox of a booming market but
falling revenues – and could suffer even more if a trade war
Huge European subsidies for solar power helped create
hundreds of start-ups building solar equipment. Those subsidies
are being phased out faster than expected, while greater
competition within Europe and the United States as well as from
China have pushed down prices and forced panel manufacturers to
FRANKFURT, April 26 (Reuters) – Germany’s green energy drive
is proving surprisingly good for dirty brown coal as utilities
squeezed by rival renewables and low wholesale gas prices use
more of it.
East Germany was a huge user of brown coal, or lignite, and
Germany remains the world’s biggest producer, but its use poses
a problem for Berlin’s environmental plans.
FRANKFURT, March 28 (Reuters) – German insurer Allianz SE
and a Canadian investor agreed to pay some 1.6 billion
euros ($2 billion) including debt for a Czech gas pipeline
operator, as financial investors flock to such assets in search
of safe returns.
The purchase of RWE AG’s Net4Gas unit is the
latest in a string of acquisitions in the field of power and gas
grids, which are attracting pension funds and insurers due the
promise of steady returns amid low bond yields and volatile
FRANKFURT, March 27 (Reuters) – SMA Solar’s
profits and dividend more than halved last year, hit by plunging
prices that have led to a wave of insolvencies in the solar
The world’s largest maker of solar inverters – a key
component in solar installations needed to feed solar power into
the electricity grid – on Wednesday reported a 58-percent drop
in 2012 operating earnings to 102 million euros ($131 million).
FELDHEIM, Germany (Reuters) – Nations as diverse as North Korea and the United States have sent delegations to visit a tiny village in former East Germany to see how it has transformed the way it uses energy.
A 60-minute drive south of Berlin and home to about 125 people, Feldheim is Germany’s first and only energy self-sufficient village and attracts both international energy experts and politicians.
FRANKFURT/MUNICH, Germany, March 14 (Reuters) – Germany’s
Wacker Chemie, the world’s No. 2 maker of polysilicon,
cut its dividend for 2012 by nearly three quarters as profits
tumbled and forecast falling earnings this year, blaming
consolidation in the solar sector.
Prices of polysilicon, a key ingredient needed to make solar
cells, plunged 47 percent last year due to global oversupply
triggered by years of government incentives in Germany and other
countries to encourage consumers to shift to solar energy. Those
incentives are now being scaled back.
DUESSELDORF, Germany, March 13 (Reuters) – E.ON
said it wanted to close the sale of its stake in uranium
enrichment firm Urenco this year or next, as part of a drive to
shed assets and cut its massive debts.
The utility, hit by Germany’s decision to pull out of
nuclear power, stagnating energy demand in Europe and high
borrowings, plans to offload up to 20 billion euros worth of
operations, including non-core nuclear businesses.
FRANKFURT/MILAN, March 8 (Reuters) – Renewable energy is
constantly evolving and challenging traditional utilities but
one growing sector could make home-generated power much easier
to use and cut customers’ dependence on energy companies
dramatically – solar batteries.
A major conundrum with solar panels has always been how to
keep the lights on when the sun isn’t shining.