FRANKFURT, July 30 (Reuters) – SMA Solar,
Germany’s biggest solar company by revenue, said it will cut 12
percent of its workforce after competition from Asia and a
decline in Europe’s solar sector forced it to lower its outlook
for sales and profit.
The 600 job losses by the end of 2015 are SMA Solar’s second
major round of layoffs in as many years. The company has been
badly hit by falling solar power subsidies in Europe, most
notably in its home market Germany, where the company makes
about 28 percent of its sales.
ESSEN, Germany, July 17 (Reuters) – RWE Innogy, the
renewables arm of RWE, expects profits to grow
strongly over the next two years and is interested in investing
in Britain even though the company abandoned a major windfarm
project there last year.
“We see our share of RWE’s total operating profit standing
at about 10-15 percent in the mid-term, this corresponds with
the planned level of investment,” Hans Buenting, chief executive
of RWE Innogy, told Reuters in an interview.
FRANKFURT, July 15 (Reuters) – Last November, Felix Lindner
came very close to shutting down the power supply of Ettlingen,
a town of almost 40,000 people in the south of Germany.
“We could have switched off everything: power, water, gas,”
Lindner, head of Berlin-based Recurity Labs, an IT security
MANNHEIM, Germany, July 7 (Reuters) – MVV Energie
expects profits to recover from next year, its chief executive
said, as Germany’s fifth-largest utility banks on investments in
wind and biomass projects to escape a crisis in conventional
Hit by a massive decline in wholesale power prices,
Mannheim-based MVV has seen its profits shrink by 14 percent
over the last four fiscal years and like larger peers E.ON
, RWE, EnBW and Vattenfall’s
German unit, is cutting costs and investing in new
FRANKFURT, June 2 (Reuters) – Globally installed solar
capacity will nearly triple over the next four years, boosted by
strong growth in Asia, which dethroned Europe as the world’s
biggest solar market last year, according to a major industry
Cumulative photovoltaic installations are seen rising to
about 374 gigawatt (GW) in 2018, compared with 139 GW last year,
the European Photovoltaic Industry Association (EPIA) said on
Monday in its annual market report.
BURGHAUSEN, Germany/GEISMAR (Reuters) – Nestled in the green hills of southern Germany, chemical giant Wacker Chemie churns out a wide range of products, from an ingredient for chewing gum to the polysilicon crystals in solar cells.
The electricity to produce all that – enough power for more than 700,000 households annually – has become more costly at Wacker’s main factory in Burghausen. It has played a big part in pushing up the firm’s total energy bill by 70 percent over the last five years, to nearly half a billion euros.
BURGHAUSEN, Germany/GEISMAR, Louisiana, June 2 (Reuters)
- Nestled in the green hills of southern Germany, chemical giant
Wacker Chemie churns out a wide range of products, from an
ingredient for chewing gum to the polysilicon
crystals in solar cells.
The electricity to produce all that – enough power for more
than 700,000 households annually – has become more costly at
Wacker’s main factory in Burghausen. It has played a big part in
pushing up the firm’s total energy bill by 70 percent over the
last five years, to nearly half a billion euros.
FRANKFURT, May 20 (Reuters) – There are signs of hope for
German utilities looking for help to keep loss-making plants
open as Economy Minister Sigmar Gabriel drives energy reforms
and the regulator signals his support for lifting the sector out
The government wants utilities to keep gas- and coal-fired
plants open to ensure power supply when there is a lull in
variable wind or solar energy.
FRANKFURT, May 14 (Reuters) – RWE, Germany’s
second-biggest utility, said first-quarter operating profit fell
by almost a fifth, offering no prospect for a fast recovery from
a power sector shakeup that has more than halved the company’s
market value in four years.
German utilities are grappling with the biggest ever
upheaval in their business models, caused by weak demand for
energy in Europe and a boom in renewable energy sources that are
given priority access to power grids over their conventional gas
and coal-fired power plants.
FRANKFURT (Reuters) – Germany’s biggest utility E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) on Tuesday called for compensation for its loss-making gas-fired power stations after posting a 12-percent fall in first-quarter earnings.
Germany’s utilities are under pressure from expansion of renewable energy capacity which is threatening the business model of their conventional power plants, most notably gas.