Germany’s RWE Won’t Build New Nuclear Plants Abroad – Report

RWE AG : Germany’s RWE Won’t Build New Nuclear Plants Abroad – Report

06/17/2012 | 05:24pm

German utility RWE AG (RWE.XE) has decided it won’t manufacture any new nuclear plants abroad after Germany’s accelerated nuclear-energy exit, Munich daily Sueddeutsche Zeitung reports in a pre-release of an article in Monday’s edition.

Citing people who attended a managers’ meeting of the company in Istanbul, the paper reports that RWE’s incoming chief executive, Peter Terium, informed the company’s high-ranking managers of the management board’s decision at the gathering.

The decision, which signals RWE will exit the international nuclear-energy business in the coming years, is also supported by the company’s municipal major shareholders, the people familiar with the matter told the newspaper.

Mr. Terium, who will become CEO at the beginning of July, plans to expand the company’s solar-energy business in Germany, the newspaper reports. RWE plans to build solar-power plants together with municipal utilities and also wants to enter the business with private customers, the newspaper writes.

Newspaper website: www.sueddeutsche.de

Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com.

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