BERLIN, Jan 21 (Reuters) – The challenges of shifting to
renewable energy, such as costs, regulation, financing, and poor
reliability, will loom large for Germany’s energy leaders this
week when they meet to discuss the country’s boldest
infrastructure project since reunification.
Chancellor Angela Merkel’s decision, after Japan’s Fukushima
disaster two years ago, to abandon nuclear energy and switch to
more renewable sources like wind and solar power, is being
watched the world over as a possible model for others to follow.
FRANKFURT (Reuters) – Rupert Murdoch’s News Corp tightened its grip on Sky Deutschland on Monday, saying it would raise its stake in the German pay-TV company to 54.5 percent from just under half in a capital increase.
The move comes as media conglomerate News Corp separates its publishing and entertainment assets into two publicly traded companies following shareholder pressure to sell its troubled newspaper business and put a greater focus on the faster-growing TV companies.
LOS ANGELES/FRANKFURT, Jan 8 (Reuters) – Solar stocks kicked
off 2013 with a sharp rally, prompted in part by last week’s
news that a company controlled by Warren Buffett’s Berkshire
Hathaway Inc would pay up to $2.5 billion for two
SunPower solar projects in California.
This week, the stocks retreated after many investors and
analysts called the moves overblown, making the Buffett rally
look more like a short-term bump.
FRANKFURT (Reuters) – Deutsche Telekom Chief Executive Rene Obermann will step down at the end of next year and be succeeded at the helm of Germany’s former state telecoms monopoly by finance director Timotheus Hoettges.
Hoettges, 50, said on Thursday he was not planning major changes to strategy and would continue Obermann’s drive of investing in the United States and Germany as the firm battles to return to revenue growth against a tough economic backdrop.
FRANKFURT, Dec 20 (Reuters) – Deutsche Telekom
Chief Executive Rene Obermann will step down at the end of next
year and be succeeded at the helm of Germany’s former state
telecoms monopoly by finance director Timotheus Hoettges.
Hoettges, 50, said on Thursday he was not planning major
changes to strategy and would continue Obermann’s drive of
investing in the United States and Germany as the firm battles
to return to revenue growth against a tough economic backdrop.
FRANKFURT, Dec 19 (Reuters) – Australian bank Macquarie
has bought a stake in Czech gas grids owned by
Germany’s No.2 utility RWE, adding to its European
infrastructure portfolio as it hunts for stable returns.
Infrastructure investors are looking to buy into safer
assets that yield guaranteed returns, such as power and gas
grids, amid turbulent stock markets and low interest rates.
FRANKFURT, Dec 12 (Reuters) – The need for power grid
expansion will be a boon for infrastructure companies in the
coming years, according to fund managers at BlackRock, the
world’s biggest money manager.
“We are very bullish on energy infrastructure,” Alastair
Bishop told Reuters. “The need for investments in the area of
energy infrastructure will be one of the clearest themes in the
next three years and beyond.”
FRANKFURT/ISTANBUL (Reuters) – German utility E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) aims to more than double Enerjisa’s share of Turkey’s power generation capacity, expanding its presence in one of the world’s fastest-growing energy markets.
Germany’s biggest utility said on Tuesday that Enerjisa, in which it acquired a 50 percent stake on Monday, wanted at least 10 percent of the market by 2020, up from 4 percent now.
FRANKFURT, Dec 3 (Reuters) – RWE AG could face
further headwinds in the planned sale of its Czech gas network
should it choose to exit the Nabucco pipeline project.
Germany’s second-biggest utility may quit Nabucco – designed
to transport Caspian gas into Austria – a source told Reuters on
Sunday, raising fears the project may be stopped after already
having been scaled back earlier this year.
FRANKFURT, Nov 22 (Reuters) – Germany’s exit from nuclear
power is weighing on its largest energy group E.ON as
it struggles in the economic downturn, and some shareholders say
a merger could solve the company’s problems.
E.ON’s shares recorded their biggest ever intraday drop last
week after it warned a weakening European economy was depressing
power demand and would hit 2013 profits.