E.ON seeking investment for renewable energy projects

Fix energy prices until 30th September 2017

Looking to switch your business energy supplier? Click here

Use our OFGEM accredited comparison tool to compare the whole market today.

Green Energy - Turbines Windmills

E.ON has revealed that it's seeking investment to support its renewable energy projects.

The German company and owner of big six energy supplier E.ON UK is currently managing $39.2 billion worth of debt, which has resulted in it reducing the amount it invests in renewables.

Europe's renewable energy generation has grown significantly, and is said to have become a growing profit source for the energy supplier. The energy supplier currently has a renewable energy capacity of 10,900 MW (megawatts) from locations based around the world - accounting for around 17 per cent of its total generation capacity.

It has a selection of big onshore wind projects planned, but can no longer provide the funding needed to complete them on its own. The majority of E.ON's wind parks are currently situated in the US and the UK.

Mike Winkel, the board member responsible for renewables at the energy giant, said in an interview with Reuters, commented: "We have a big pipeline of developed onshore (wind) projects. But E.ON can no longer meet the capital needs for these projects on its own.

"Therefore financial investors are very welcome to join and it turns out they see this market as being quite attractive," Mr Winkel added.

Latest gas and electricity news brought to you by UK Power - the energy price comparison site.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.