RWE to Close Idle Power Plants

German power giant RWE says it will mothball or shutdown some of its gas and coal-fired power stations because of an increase in renewable energy.

The company said a boom in solar energy meant many of its power stations were no longer profitable.

A total of 3,100 megawatts of generating capacity will be taken off line, representing about 6% of RWE’s total capacity.

Separately its Npower business in the UK posted a fall in half-year profits.

Tighter margins

RWE is one of the biggest energy generators in the world. Its power stations affected are in Germany and the Netherlands.

German rival E.On has also begun taking generating capacity off line.

“Due to the continuing boom in solar energy, many power stations throughout the sector and across Europe are no longer profitable to operate,” RWE said¬†in a statement.

Read more here: http://www.bbc.co.uk/news/business-23692530?ocid=bncptl