Sent October 3, 2022, 7:10 pm
A German coal operator who becomes the fourth player in renewable energy in the United States thanks to Qatari money: who said that globalization is reversed? Germany has historically benefited greatly. But he is led to wonder when RWE, its standard of lignite in conversion as the world’s number 2 in offshore wind power, goes to see if the sun is no longer shining elsewhere.
The € 7 billion acquisition of Consolidated Edison’s 10-gigawatt renewable portfolio of New York for € 7 billion is deemed “incomprehensible” by the small “green” activist fund Enkraft. Won’t RWE’s profits come again this year from its coal-fired plants, which were reignited during the gas crisis? Shouldn’t they then be reinvested in German energy independence?
One of Europe’s largest CO2 emitters has never hidden its American ambitions behind a smokescreen. And if it suddenly achieves almost half of its planned schedule by 2030 on this continent at very high prices (2.2 million euros per megawatt installed), most investors see a natural development (+1.9 % for Monday’s title). 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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