E.ON seeking investment for renewable energy projects

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

The German company and owner of big sixenergy 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.

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