Utility cards reshuffled
The game of energy poker, once predictable to the card counters of old, sees a number of new jokers added to the pack. Former trump cards of incumbent utilities, like coal and nuclear, are becoming less valuable. It would be foolish, however, to mistake legacy as weakness, as with every reshuffling, long-standing players are left with surprises up their sleeves – and much at stake.
On March 28, Germany-based EnBW announced its plans to acquire French solar and wind developer Valeco. Just one day later Italy-based Enel had acquired a 13 GW portfolio of wind and solar-plus-storage assets in the United States – from the developer Tradewind Energy. On April 1, EDF announced it had finalized its acquisition of the …
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