RWE says nuclear concession would boost renewables

Thursday, September 11, 2008

Sept 11 (Reuters) - RWE AG, Germany's largest producer of power, said on Thursday it was prepared to invest profits from its nuclear power stations in renewable energy if it was allowed to operate the atomic plants longer.

German utilities, including RWE, E.ON AG, Energie Baden-Wuerttemberg and Vattenfall's German unit, are seeking to convince the German government to allow them to operate their nuclear power stations longer.

Under the current agreement, the country's nuclear power plants -- for utilities their most profitable large-scale power plants -- will have to be shut down by the mid-2020s.

"In case of an extension of the lifespan RWE would be prepared to use the resulting funds to advance energy efficiency, expand renewable energies, for research and development, or for other aims which the government may determine," RWE said in a statement on Thursday.

RWE had said in the past that extending the lifespan of all German nuclear power plants by 25 years would result in an overall extra gain of 250 billion euros ($348.2 billion)

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