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Npower owner announces spending plans following price hikes
02 September, 2008German energy firm and Npower owner RWE has bought a £6 million stake in the green energy company Quiet Revolution.
German energy firm and Npower owner RWE has bought a £6 million stake in the green energy company Quiet Revolution.
Quiet Revolution specialises in small wind turbines, ideally suited for placement in cities, which lack the space required for the traditionally tall offshore or countryside wind turbines.
"The local supply of electric power to individual buildings from renewable energy will become increasingly significant," Fritz Vahrenholt, head of the RWE subsidiary RWE Innogy explained.
"Small windpower units on roofs can make a major contribution to this goal - especially in places with insufficient sunshine, so that photovoltaics would not be efficient enough."
The investment announcement comes just days after Npower announced that it has risen its energy prices in the UK, with gas now 26 per cent more expensive and electricity 14 per cent more expensive.
Although small-scale turbines have not been well received so far, the company hopes to use the investment money to expand the number of turbines across the country.
With 30 installed to date and 45 currently in production, RWE is hoping to avoid claims so far voiced that the small turbines are inefficient.
The long, drawn-out sale of British Energy (BE) to EDF Energy has come to an end after the French energy firm bought BE for £12.5 billion, it has been reported.
Government hopes to have an EDF Energy-British Energy (BE) tie up within two weeks have been dubbed "optimistic" by the British nuclear company, according to a recent report.
Gordon Brown is facing the prospect of a major defeat over the government's reluctance to impose a windfall tax on energy companies, it has been reported.
The City of London has launched a campaign against Gordon Brown in order to convince him that introducing a windfall tax on energy companies should be avoided.
TaylorWimpey has reported phenomenally poor first half results for the year so far, recording a loss of £1.5 billion, it has been announced.