Tuesday, May 08, 2018

German utility E.ON sees renewable sector growth

E.ON sees renewable sector growth
In a market transitioning in a low-carbon way, German utility E.ON said Tuesday that its renewable energy segment saw earnings rise 7 percent.

Adjusted net income for the first quarter was up 38 percent from the same period last year to $862 million. Its renewables division saw earnings increase by about 7 percent to $203 million.

Across the board, the utility company said it added tens of thousands of customers in a German energy market leaving nuclear options behind. In the wake of Japan's nuclear disaster in 2011, German Chancellor Angela Merkel ordered eight of the country's 17 nuclear reactors closed by the end of that year and a total shutdown by 2022.

Now, Germany as a whole has one of the greener economies in Europe.

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