RWE to invest EUR 5bn in renewable energy

RWE Germany’s second-largest utility, plans to invest about EUR 5bn ($6.4bn) in renewable energy ventures in four years as the country exits nuclear-power generation.

Projects include a EUR 1 bn offshore wind park in the German North Sea, as well as biomass plants and wind farms in the U.K. and Poland.

RWE plans to almost triple its wind power capacity in Poland to 300 MW by 2015.

Germany, Europe’s biggest economy, is seeking to install 10 000 MW of sea-based wind turbines this decade as it raises the share of renewables in the energy mix.

EON AG, the country’s largest utility, said last month it will invest EUR 7 bn in renewable energy projects in five years.

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