RWE to Miss Growth Targets at Renewable Energy, Oil Divisions
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RWE AG, Germany’s second-largest utility, said it will miss growth targets at its renewable energy and oil and natural gas production units because of reduced investment and project delays.
RWE Innogy, the Essen, Germany-based company’s renewable energy unit, plans to have 4.5 gigawatts of power generation under construction or in operation by 2014, later than RWE’s original goal of reaching the figure as early as next year, the utility said today in a statement.