EON to Cut Costs of Building Offshore Wind Farms 40% by 2015
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EON AG, Germany’s biggest utility, expects to cut costs for building offshore wind farms about 40 percent by 2015 as it embarks on a 7 billion-euro ($9 billion) renewable energy expansion plan.
EON, which today said that 2011 profit slumped 50 percent in part on the German nuclear exit and lower earnings from its power generation and wholesale gas business, will commission as much as 800 megawatts of renewable capacity this year, Chief Executive Officer Johannes Teyssen said in Dusseldorf.