Fool’s Gold: Financial institutions waste billions on coal, undermining climate action
European financial institutions and international investors and banks including BlackRock and Japanese megabanks are keeping Europe’s terminally declining coal industry on life support, handing companies EUR 12 billion in investment, and EUR 9.8 billion in loans and underwriting in less than 1.5 years, according to a new report by Europe Beyond Coal and partners. Such […]
RWE boosts renewables portfolio to 9 GW after asset swap with E.ON
The major asset swap between RWE and E.ON is finally completed, as RWE took over innogy’s operations and becomes one of the world’s largest producers of renewable energy. The German company now has a renewables portfolio of 9 GW while 2.6 GW is under construction. According to most estimates, RWE is now the second-largest offshore […]
Four in five EU coal power plants unprofitable: Greece’s PPC faces EUR 596 million loss, Romania’s CE Oltenia EUR 567 million
Four in five EU coal power plants are unprofitable and utilities could lose EUR 6.6 billion this year alone, finds a new report from financial think-tank Carbon Tracker. Looking at the region, Greek utility PPC could lose EUR 596 million this year, Romanian utilities could lose EUR 567 with CE Oltenia alone facing losses of […]
RWE acquires Croatian solar energy service provider
German power utility RWE has taken over Relatio ES Adria, one of the largest Croatian companies in design, supply, installation and commissioning of solar power plants, Novac.hr reported. Relatio ES Adria, based in Varaždin, was established in 2012, and until 2019 it has designed, installed and put into operation solar power plants in Croatia, BiH, […]
UPDATE: RWE Hrvatska completes takeover of Hrvatski Telekom’s retail electricity business
The sale of telecom company Hrvatski Telekom’s (HT) electricity business to RWE Hrvatska has been concluded, HT said in a press release. At the beginning of June 2018, HT concluded a contract with RWE Hrvatska, initiating the process of the transfer of its electricity business to RWE Hrvatska. Upon the obtaining all necessary regulatory approvals […]
Germany’s RWE eyes solar project in Croatia through JV with HEP
Croatia’s state power utility Hrvatska Elektroprivreda (HEP) expects to launch works on the Kosinj hydropower plant by the end of 2018, while it plans a wind and a solar project in 2019, HEP board member Petar Sprčić has told a conference in Zagreb, noting that he cannot reveal the names of the projects in question. […]
Hrvatski Telekom sells retail electricity business to RWE Hrvatska
Hrvatski Telekom will sell its power business to RWE Hrvatska, the telecommunication company said in a press release. Hrvatski Telekom has concluded a contract with RWE Hrvatska initiating the process of the transfer of its retail electricity business segment to the German energy company’s subsidiary, Hrvatski Telekom announced. This transaction has no influence on the […]
Power production and distribution companies in the Balkan region – governments still in charge
By Vladimir Spasić, energy journalist and analyst It is not just that the governments in the Balkan region do not consider selling their power utilities, but they covet buying what they sold twenty years ago, or at least buying from their neighbors. This can be illustrated by the announcement of Serbian power utility Eletkroprivreda Srbije (EPS) […]