Investors Warm up to German Offshore Wind
German offshore plants attract new investment; offshore energy a key component in switch from nuclear. Start-up costs high, but returns are attractive. Germany's offshore wind parks, once seen as only for brave investors because of high costs and operational risks, are attracting fresh money after laws were passed to ensure ambitious renewables targets are met. British investment firm Laidlaw Capital bought its second German offshore wind park project two weeks ago, following a landmark German offshore wind acquisition by Canadian energy group Northland Power. Chancellor Angela Merkel's government has made offshore wind a priority in the country's "Energiewende", which moves Germany towards alternative energy sources after a decision to phase out nuclear power by 2022.
Germany Could Stop RWE Unit Sale
Germany's Economy Ministry is investigating whether to block the sale of RWE's oil and gas unit DEA to a group of investors led by Russian tycoon Mikhail Fridman, a spokeswoman said. The German government has never previously made use of a clause in its foreign trade law, under which it could stop the deal announced earlier this year if there were concrete signs it threatened "public safety and order". "An investigation has been started. It is an open-ended investigation (to find out) whether there are conditions for prohibiting the deal under the foreign trade accord," a spokeswoman for the Economy Ministry told Reuters. Spiegel magazine on Sunday reported the ministry had started to look into the deal following fresh information but did not give further details.
Mild Weather in Europe Hurts Coal Prices
European physical coal prices on Monday dropped to their lowest level since last summer as mild weather pulled down demand. Cargos for delivery in March to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were valued around $73.50 per metric ton on Monday, down $0.8 since Friday and to their lowest level since early July 2013. Traders said the price drop was a result of low demand and healthy supplies. "Our stocks are full, and the weather outlook suggests that the mild winter will go directly into a mild spring. At the same time we're looking at improved supply availability from Colombia from April," said one coal trader with a utility. Meteorologists expect an early spring to continue to bring warmer-than-usual conditions over most of Europe, implying sustained weak energy demand.
Euro Coal: Prices Drop on Mild Weather Outlook
European physical coal prices on Monday dropped to their lowest level since last summer as mild weather pulled down demand. Cargoes for delivery in March to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were valued around $73.50 a tonne on Monday, down $0.8 since Friday and to their lowest level since early July 2013. Traders said the price drop was a result of low demand and healthy supplies. "Our stocks are full, and the weather outlook suggests that the mild winter will go directly into a mild spring. At the same time we're looking at improved supply availability from Colombia from April," said one coal trader with a utility. Meteorologists expect an early spring to continue to bring warmer-than-usual conditions over most of Europe, implying sustained weak energy demand.
