Monthly Archive for December, 2009

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Utz Claasen New CEO of Solar Millenium

Prof. Dr. Utz Claasen, former CEO of EnBW, one of Germany’s biggest utilities, was appointed new CEO of Solar Millenium AG on 15 December 2009. Continue reading ‘Utz Claasen New CEO of Solar Millenium’

Exxon Mobil Buys XTO

In its biggest deal since Exxon’s purchase of Mobil in 1999, Exxon acquired XTO Energy, the largest US producer of natural gas, in what the Telegraph calls ” a bet that the need to cut carbon emissions will drive demand for the gas”.  Continue reading ‘Exxon Mobil Buys XTO’

EnBW Agrees to Sell GESO

EnBW Energie Baden-Württemberg AG is, in principle, willing to dispose of its shares in GESO Beteiligungs- und Beratungs-AG. This resolution was passed by EnBW’s Supervisory Board on 10 December 2009. This means that EnBW will fulfill one of the conditions imposed by the anti-trust authorities in connection with the acquisition of a 26% shareholding in the Oldenburg-based EWE AG.
EnBW now intends to bring the negotiations with various bidders on the sale of the GESO shares to a conclusion over the coming few months.
GESO was formed in 1990 to act as a holding company for shares in regional and municipal energy companies in eastern Saxony.
At the same time, the Supervisory Board approved the extension of the share purchase agreement and, consequently, the call option for the 47.89% shareholding in Verbundnetz Gas Aktiengesellschaft (VNG) held by EWE AG.

The supervisory board of EnBW Energie Baden-Württemberg AG approved the sale of EnBW’s shares in GESO Beteiligungs- und Beratungs-AG, a holding company for shares in regional and municipal energy companies in eastern Saxony.  Continue reading ‘EnBW Agrees to Sell GESO’

RWE to Cut CO2 Emissions

RWE Group, still Europe’s biggest CO2 emitter, is aiming to reduce CO2 emissions. Continue reading ‘RWE to Cut CO2 Emissions’

Suzlon to Buy Remaining REpower Shares

New Delhi-based Suzlon Energy Ltd. is reportedly planning to buy the remaining 8% of the shares in German REpower Systems AG it does not yet own. Continue reading ‘Suzlon to Buy Remaining REpower Shares’

Scan Energy Cancels IPO

Danish wind park and solar energy operator Scan Energy A/S cancelled its planned IPO. Continue reading ‘Scan Energy Cancels IPO’

Photovoltaic Installations May Not be Connected to the Grid Fast Enough

Power grid operators may be unable to connect all technically operational new photovoltaic installations before the end of the year.   Continue reading ‘Photovoltaic Installations May Not be Connected to the Grid Fast Enough’

Cabinet Adopts Baltic Sea Offshore Regional Zoning Plan for Wind Farms

The German Cabinet has adopted the outstanding regional zoning plan (Raumordnungsplan) for the Baltic Sea part of the German Exclusive Economic Zone (EEZ).  Continue reading ‘Cabinet Adopts Baltic Sea Offshore Regional Zoning Plan for Wind Farms’

Concerns about Consumers Paying Twice for Excess Renewable Energy

According to the Renewable Energy Sources Act (Erneuerbare Energien Gesetz – EEG) German grid operators have to pay fixed feed-in tariffs for renewable energy fed into their power grid.  As of 1 January 2010, the grid operators are required to sell electricity from renewables via the spot market the same day pursuant to the Equalisation Scheme Ordinance (AusglMechV). Continue reading ‘Concerns about Consumers Paying Twice for Excess Renewable Energy’

Commission to Reject Electricity Price Compensation for Aluminium Producers?

In August 2009 the Federal Ministry of the Environment stated that the manufacturers of environmentally friendly non-iron metals suffered from a price decline and high electricity prices.  As a consequence, the Federal Government decided to pay compensation in the amount of EUR 40 million in the second half of 2009. Continue reading ‘Commission to Reject Electricity Price Compensation for Aluminium Producers?’