Germany: RWE turns off nuclear and looks to solar power


According to a company spokesperson, the new chief executive Peter Terium, who will take the reigns on July 1, is looking to restructure the company and seeks to look into investment in solar energy. Local German media, "Süddeutsche Zeitung" reported that RWE will also no longer develop nuclear power plants abroad, as the financial risks are too high for such projects.

Terium has said that with regards to solar power, a new phase of reassessment will be done. This way, RWE will engage in local solar project development and also in solar businesses with private consumers abroad. This shift in focus is also approved by the local shareholders in the group.

According to the company's corporate circle and rating agencies, it became clear in the last months that further risks taken in the direction of nuclear power development threaten creditworthiness. At the end of March, RWE and E.ON decided to pull out of their British nuclear power joint venture, Horizon Nuclear Power. Both companies have had to deal with the reprecussions of post-Fukushima nuclear policies in Germany.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.