Articles filed under General from Germany
Consumer groups accused Prokon of attracting investors with promises of potential returns of at least 6 percent a year without giving sufficient warning of the risks. Its insolvency deals a blow to thousands of retail investors who had hoped to profit from Germany's shift from nuclear to renewable energy sources such as wind and solar.
In an attempt to control the decline, the EU put a protective tax on on imported panels last summer. This saw lots of Chinese companies raising their costs, but it does not seem to have had much of an effect on homegrown production.
German onshore wind energy is to be effectively capped at 2.5GW per year by reducing support if the capacity installed exceeds this amount. ...The amended Renewable Energy Act is due to take effect on 1 August 2014, according to a economy ministry "cornerstone" paper, due for discussion by the government later this week.
For RWE, the moves are part of a repositioning to deal with problems that include drastically reduced earnings due to ongoing low wholesale electricity prices at a time when the company struggles with massive EUR 30 billion in debts. In the UK, RWE's conventional generating division made a EUR 69 million operating loss in the first nine months of 2013, compared with a EUR 162 million profit in the equivalent 2012 period
Prokon, based in Itzehoe, Germany, warned in a letter to investors published on the Internet that if they don't waive repayment of the money, it will be bankrupt by the end of January, making it one of the largest bankruptcies ever in the German "grey capital" market, Suddeutsche Zeitung reported.
Siemens has refused to rule out axing jobs in its wind division as the company prepares to make 15,000 redundancies. The company-wide cuts will be implemented over the next 12 months as part of a previously announced Siemens 2014 cost-cutting programme aimed at saving EUR 6 billion.
"In talks with our investors it became clear that a change in management was a prerequisite for the successful continuation of talks," Windreich's new chief Werner Heer said. Windreich plans, builds and sells wind parks and is a key player in Germany's offshore wind park expansion.
This important editorial published by the editor board at the largest daily newspaper in Denmark responds to the recent 'Act on Facts' campaign launched by turbine maker, Vestas. An English translation of the piece is provided below.
Siemens' energy business said last December it planned to cut almost 1,100 jobs in Germany as the engineering giant trims costs to make energy operations more profitable. The energy unit makes gas and wind turbines ...It said earlier this month it would shut the last of its solar energy businesses after it failed to find a buyer.
With Japan’s crisis raising new questions about nuclear power, this might seem an ideal time for a company that is a global leader in alternative energy and has a big presence in an energy-starved country, India. But for Enercon of Germany, one of the world’s biggest makers of wind turbines, India is shaping up as a disaster.
Like its rivals Repower and Vestas, Nordex had been suffering from overcapacities and sinking prices in the sector. Nonetheless, it gave a positive outlook for this year, saying 2013 revenues could reach between 1.2 and 1.3 billion euros on the back of record orders.
"The construction work is very noise intensive," Otto von Estorff, from the Technical University Hamburg-Harburg told the paper. "The particularly conductive quality of the water means the noise can be clearly heard for several kilometres." He and his research team have measured around 200 decibels at the construction site.
* RWE says needs to respond to strong wind power supply * Has enough thermal capacity to meet peak winter demand * Grid firm TenneT says adjusts reserves accordingly
Spain-based Iberdrola has announced that it is exiting the German wind energy market and has sold its remaining assets in the country to Germany-based utility MVV Energie AG. Under the recently signed agreement, Iberdrola sold seven onshore wind farms, all located in Germany, to MVV. The projects have a total installed capacity of 62.9 MW.
Offshore wind farms are an integral part of the German government's renewable energy agenda - and the buried ammunition is slowing down their construction. Boskalis Hirdes, an international company that disposes of unexploded ammunition, has found more unexploded ordnance than expected ..."We expected around 50 targets on a route length of more or less 45 kilometers, and we found more than 2,000."
Germany is dumping electricity on its unwilling neighbors and by wintertime the feud should come to a head. Central and Eastern European countries are moving to disconnect their power lines from Germany's during the windiest days. That's when they get flooded with energy, echoing struggles seen from China to Texas over accommodating the world's 200,000 windmills.
Worldwide, the blogosphere pulses with indignation about solar subsidies. But the peculiar thing about all this wrath is how rarely it is directed at what is becoming a remarkably destructive aspect of renewable energy: its ability to drive down wholesale electricity prices.
TenneT TSO, whose Dutch parent bought E.ON's German high voltage grid in 2009, has come under political and financial pressure over delays in linking offshore wind farms to Germany's onshore grid, as part of the country's hurried shift toward renewable energy.
Lulls in wind power in winter especially coincide with anticyclones bringing clear skies and cold weather when power demand is also high, revealing an Achilles heel for renewables, when sunlight is still relatively weak and the wind drops.
On days when there is a lot of wind, the sun is shining and consumption is low, market prices on the power exchange can sometimes drop to zero. There is even such a thing as negative costs. ...Under current conditions, even the most modern and efficient combined steam and gas power plants are not recovering billions in investment costs.