German Nuclear Power Extension Threatens Offshore Wind Funding

According to a September 6 report from Bloomberg, the German government’s plan to extend the phase-out of nuclear power risks hampering investment in offshore wind turbines. Utilities including E.ON AG and RWE AG may cut their investment in the industry to compensate for a tax of $3.9b a year they will be charged, said an analyst at Bloomberg New Energy Finance. The levy on nuclear-plant operators is meant to support renewable energy.

(Source: Bloomberg)