FRANKFURT, Sept 4 (Reuters) – Power plant operator Next
Kraftwerke expects to nearly triple revenues this year as it
links solar, wind and biogas units to respond nimbly to
Germany’s sudden big surges in demand – a model it plans to
export to other countries.
“We’re basically acting like a big operator, it’s just about
many small power units that form a big one,” said Jochen
Schwill, co-chief executive of Next Kraftwerke, which runs one
of Germany’s largest so-called virtual power plants (VPP).
BERLIN, Aug 27 (Reuters) – Germany’s half-a-trillion-euro
energy overhaul is forcing sector players to turn around their
business models fast, giving smaller groups a head start on the
country’s ponderous utilities.
Europe’s largest economy has seen its energy sector slide
into crisis following its decision to abandon nuclear power by
2022, as a subsidised boom in solar power has dealt a heavy blow
to traditional utilities, forcing them to close plants
generating thousands of megawatts.
FRANKFURT, Aug 15 (Reuters) – Germany’s Nordex
raised its forecasts for sales and profit margins this year as a
new generation of products helps the wind turbine maker
outperform the European market.
The wind power industry is emerging gradually from an
overcapacity crisis and falling state subsidies as European
governments bank on wind power to reach renewable targets for
2020. Wind power is much cheaper than its solar counterpart.
FRANKFURT, Aug 14 (Reuters) – Germany’s No.2 utility RWE
followed peers by announcing cuts in generating
capacity, blaming an expansion of renewable energy that has
pushed many gas and coal-fired plants into losses.
Germany’s utilities are suffering from plunging wholesale
power prices, down by about a fifth year-to-date, and
subsidised renewable energy that takes priority feeding into the
grid, reducing the hours that many conventional plants can run.
FRANKFURT (Reuters) – Germany’s biggest utility E.ON (EONGn.DE: Quote, Profile, Research) warned it could close more generating plant than expected as plunging wholesale power prices and competition from renewable energy gnawed away at profit.
E.ON and German peers RWE (RWEG.DE: Quote, Profile, Research) and EnBW (EBKG.DE: Quote, Profile, Research) have been hit by a mix of record-low wholesale power prices, weak demand driven by recession in Europe and a state-backed expansion of renewables that has hurt profitability of conventional gas and coal-fired plants.
FRANKFURT (Reuters) – E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) warned that plunging wholesale power prices and booming renewables would continue to gnaw at its profits after Germany’s top utility posted a 15 percent drop in first-half core earnings.
E.ON, along with its German peers RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz) and EnBW (EBKG.DE: Quote, Profile, Research, Stock Buzz), has been hit by a toxic mix of record-low wholesale power prices, weak demand for power in recession-hit Europe and a boom in renewable energy that has hurt profitability of conventional gas and coal-fired plants.
FRANKFURT, Aug 8 (Reuters) – Plunging prices for solar
equipment caused a bigger than expected loss at SMA Solar
, putting more pressure on Germany’s top sector player
to escape a crisis that has rattled most parts of the industry.
A glut of cells and panels as well as tough competition from
Asia has led to a pricing squeeze in the solar industry over the
past four years, pushing many former heavyweights into
insolvency including Q-Cells, Solon and
FRANKFURT, Aug 6 (Reuters) – Germany utilities are heaping
pressure on the government before September polls to soften
green policies that are hurting their profits, with one company
hinting it could even move gas or coal plants to countries where
it can still make money.
Germany’s 550 billion euro ($728 billion) plan to upgrade
and diversify its energy system, following a decision to abandon
nuclear power, has brought about a boom in wind and solar power.
FRANKFURT, July 30 (Reuters) – German chemicals firm Wacker
Chemie beat second-quarter earnings forecasts and said
a plunge in the price of polysilicon, which it supplies to the
crisis-hit solar sector, had come to an end.
Shares in the world’s second-biggest producer of polysilicon
jumped 7 percent to a 17-month high of 74.2 euros on Tuesday.
FRANKFURT/COPENHAGEN, July 22 (Reuters) – European and
Chinese wind turbine makers are poised to do battle away from
their domestic markets as the focus in the 60 billion euro ($79
billion) industry shifts to North America, Brazil and India.
Hit by overcapacity and plunging prices in Europe and
China’s saturated markets, manufacturers of wind turbines are
under pressure to find new areas of growth to boost single-digit