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Germany to invest in USA renewable energy

German Energy Giants Eye a Greener U.S. Washington may be struggling with climate change policy, but German energy companies are angling for a piece of the action in Obama’s green energy push Business Week By Christopher Lawton October 30, 2009, “………..

After dipping their toes into the U.S. renewable energy market a few years ago, Germany’s largest energy players are now increasing their investments, even as renewable energy sales in the U.S. have slowed under the weight of the financial crisis. The hope is that a potential climate change bill in the Senate and billions in stimulus money aimed at building a clean energy sector in the U.S. will pump life into the market.

“The U.S. has enormous growth potential,” Frank Mastiaux, head of the Climate & Renewables division at German energy giant E.on, told SPIEGEL ONLINE. “It’s not the most attractive market in terms of revenue, but markets change,” he adds.

To that end, E.on (EONGn.DE) invested $1 billion to build the largest wind farm in the world with 627 wind turbines in Roscoe, Texas, which opened this month. E.on has also opened two other wind farms in recent weeks, both in Texas, representing 600 additional megawatts of clean energy. That will bring the total capacity in the United States to over 1,700 megawatts, or more than half of the company’s total wind energy capacity worldwide. In terms of the impact to its bottom line, the U.S. market is becoming more important to the company everyday, Mastiaux says……………..

Stimulus Bill Good for Business

SolarWorld AG (SWVG.DE), a solar power technology company in Bonn, announced this month that it planned to build a new solar power module manufacturing plant at its Hillsboro site in Oregon that would add an additional 350 megawatts of capacity by 2011. The new factory will boost the number of employees working for Solarworld in the U.S. to over 1000.

German Energy Giants Eye a Greener U.S. – BusinessWeek

October 31, 2009 - Posted by Christina Macpherson | 1, climate change, ENERGY, USA | antinuclear, renewables