Germany’s Largest Utility Will Focus On Renewables And Spin Off Fossil Fuels In Major Split

Posted by Mike Confino, December 1, 2014

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On Sunday, Germany’s biggest utility E.ON announced plans to split into two companies and focus on renewables in a major shift that could be an indicator of broader changes to come across the utility sector. E.ON will spin off its nuclear, oil, coal, and gas operations in an effort to confront a drastically altered energy market, especially under the pressure of Germany’s Energiewende — the country’s move away from nuclear to renewables. The company told shareholders that it will place “a particular emphasis on expanding its wind business in Europe and in other selected target markets,” and that it will also “strengthen its solar business.”

E.ON will also focus on smart grids and distributed generation in an effort to improve energy efficiency and increase customer engagement and opportunity.

via Germany’s Largest Utility Will Focus On Renewables And Spin Off Fossil Fuels In Major Split | ThinkProgress.

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