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German utility aims to expand renewables, rejects keeping nuclear reactors open

RWE CEO rejects keeping nuclear power plants open, Reuters DUESSELDORF, Aug 24 – German utility RWE (RWEG.DE) rejected on Tuesday the idea of letting nuclear power plants stay open for longer due to the fact they produce less carbon dioxide.

“We are not available for this,” CEO Markus Krebber told journalists. The German government is paying four nuclear operators – including RWE – nearly 2.6 billion euros ($3.05 billion) in compensation for forcing them to shut their nuclear plants early in response to the Fukushima disaster.

RWE, which used to rely heavily on nuclear power and coal, has transformed itself into one of the largest green power companies in Europe.

Krebber called for a new federal government to accelerate the pace of the shift to renewable energy by increasing targets, expanding the grid and cutting the approval procedures for wind energy plants.

Krebber, who took over as CEO at the end of April, will present his strategy in the fourth quarter, including a new dividend policy: “We are no longer a dividend stock. We are a growth stock,” he said. https://www.reuters.com/business/energy/rwe-ceo-rejects-keeping-nuclear-power-plants-open-2021-08-24/

August 26, 2021 - Posted by Christina Macpherson | Germany, renewable