Christoph's Feed
Mar 14, 2012

Foreign expansion, renewables to boost E.ON profit

DUESSELDORF, Germany, March 14 (Reuters) – Germany’s
biggest utility, E.ON, expects renewable energy and
foreign expansion to lift core profit this year and next after
the country’s decision to phase out nuclear power accounted for
most of its first-ever full-year net loss.

Chief Executive Johannes Teyssen said on Wednesday that E.ON
was pleased with growth at its renewable unit – spanning wind,
solar and hydro power – where 2011 core profit rose 21 percent
to 1.5 billion euros.

Mar 14, 2012

Expansion, green energy to boost E.ON profit

DUESSELDORF, Germany (Reuters) – E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) said renewable energy and foreign expansion should help lift core profit this year and next, after Germany’s decision to phase out nuclear power led to the country’s biggest utility posting its first full-year net loss.

Chief executive Johannes Teyssen said on Wednesday E.ON was pleased with the growth in its renewable unit — spanning wind, solar and hydro power — where 2011 core profit rose 21 percent to 1.5 billion euros ($2.0 billion).

Mar 5, 2012

New Dutch CEO must lead RWE into post-nuclear age

FRANKFURT, March 5 (Reuters) – RWE AG’s
pragmatic, hybrid-car driving new leader Peter Terium faces a
major challenge as he tries to reposition a company that was
defined for years by its outgoing chief and his “nuclear Rambo”
approach.

Terium may bring less charisma to the top job of Germany’s
No.2 utility than Juergen Grossmann, whom he is scheduled to
replace as CEO on July 1, 2012 and whose pro-nuclear power
stance earned him the tough guy nickname.

Feb 23, 2012

Germany to cut solar subsidies faster than expected

BERLIN/FRANKFURT (Reuters) – Germany plans to bring forward cuts in solar power subsidies of up to 30 percent by almost a month to March 9, spelling further trouble for companies selling solar panels in the world’s No.2 market.

Government sources had told Reuters on Wednesday the cuts of 20 to 30 percent would be moved forward to April 1, news that sent share prices tumbling. On Thursday Environment Minister Norbert Roettgen and Economy Minister Philipp said the cuts would be moved forward even more, to March 9, to thwart any last-minute boom in projects, a further blow to producers.

Feb 23, 2012

Germany to cut solar incentives faster than expected

BERLIN/FRANKFURT, Feb 23 (Reuters) – Germany aims to
reduce solar power incentives by between 20 percent and 30
percent from March 9, rather than from April 1, which is what
had been expected, spelling further trouble for companies
selling panels in the world’s No.2 photovoltaic market.

Shares in European solar companies fell on the news, with
sector bellwethers SolarWorld (SWVG.DE: Quote, Profile, Research), SMA Solar (S92G.DE: Quote, Profile, Research),
Q-Cells (QCEG.DE: Quote, Profile, Research), Renewable Energy Corp (REC) (REC.OL: Quote, Profile, Research) and
Centrotherm (CTNG.DE: Quote, Profile, Research) down by between 3.2 and 8.3 percent by
1248 GMT.

Feb 10, 2012

Germany jails Kosovan for life for killing U.S. airmen

FRANKFURT (Reuters) – A Kosovo-Albanian man who killed two U.S. airmen and wounded two others in a gun attack at Frankfurt airport last March was sentenced to life in prison by German court on Friday.

Arid Uka, a 22-year-old who was raised in Germany, had confessed to the attack and said he acted after seeing a video apparently showing U.S. soldiers raping Muslim women.

Feb 10, 2012

Germany jails Kosovan for life for U.S. airmen murder

FRANKFURT, Feb 10 (Reuters) – A German court found a
Kosovo-Albanian man guilty on Friday of killing two U.S. airmen
in a gun attack at Frankfurt airport in March 2010 and wounding
two others, sentencing him to life in prison.

Arid Uka, a 22-year-old who was raised in Germany, has
confessed to the attack and said he acted after seeing a video
apparently showing U.S. soldiers raping Muslim women.

Feb 1, 2012

German solar groups could thrive on subsidy fears

FRANKFURT (Reuters) – Fears Germany will cap or cut green energy subsidies is boosting demand for solar panels, and uncertainty about the shape of the measures could give the country’s battered solar sector an advantage against Chinese rivals.

Installations of solar panels have boomed in Germany over the last two years due to feed-in tariffs, lavish subsidies utilities are forced to pay by the government to those who generate their own solar power. Ultimately power companies pass on the costs to their customers.

Feb 1, 2012

Analysis: German solar groups could thrive on subsidy fears

FRANKFURT (Reuters) – Fears Germany will cap or cut green energy subsidies is boosting demand for solar panels, and uncertainty about the shape of the measures could give the country’s battered solar sector an advantage against Chinese rivals.

Installations of solar panels have boomed in Germany over the last two years due to feed-in tariffs, lavish subsidies utilities are forced to pay by the government to those who generate their own solar power. Ultimately power companies pass on the costs to their customers.

Jan 24, 2012

Solar crisis triggers Q-Cells debt restructuring

FRANKFURT, Jan 24 (Reuters) – Q-Cells said
it would restructure two convertible bonds and is trying to
agree a partial repayment of a third, as the German solar
company struggles to secure financing following a sector
shakeout that has forced some rivals out of business.

Solar companies in Europe and the United States have been
hit hard by a toxic mix of oversupply, falling prices, low-cost
Asian competition and lower government subsidies on which the
industry still depends.

    • 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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