Posted Oct 3, 2022, 7:10 PMUpdated Oct 3, 2022, 7:50 PM
A German coal operator becoming the fourth player in renewable energies in the United States thanks to the money of Qatar: who said that globalization was being reversed? Germany has historically benefited greatly from this. But it is led to wonder when RWE, its lignite standard in conversion as the world number 2 in offshore wind power, goes to see if the sun does not shine more elsewhere.
The purchase of the 10 gigawatt renewable portfolio of New York-based Consolidated Edison for 7 billion euros is deemed “incomprehensible” by the small “green” activist fund Enkraft. Won’t a large part of RWE’s profits come again this year from its coal-fired power stations, which were reignited during the gas crisis? Shouldn’t they therefore be reinvested in German energy independence?
One of the biggest emitters of CO2 of Europe, however, has never hidden its American ambitions behind a smokescreen. And if it suddenly achieves close to half of the planned roadmap by 2030 on this continent at very high prices (2.2 million euros per megawatt installed), most investors there see a natural development (+1.9% for the stock on Monday). Qatar, which is dragging its feet to supply Germany with gas, has become RWE’s largest shareholder by providing a third of the financing. Komisch?
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