VW to invest in renewable energy

Aug 26, 2011
The biggest European automaker, Volkswagen, plans to invest almost one billion euros ($1.44 billion) in renewable energies over the coming years, a press report said on Friday.

The biggest European automaker, Volkswagen, plans to invest almost one billion euros ($1.44 billion) in renewable energies over the coming years, a press report said on Friday.

VW is to invest in an offshore wind park and is in talks with four companies in the sector, with an eye towards chosing a partner by the end of the year, the Financial Times Deutschland said, citing a source close to the matter.

The wind park is expected to have a generating capacity of 200 megawatts, about one fifth the capacity of an average Germany , the report said, or about as much as 275,000 German households consume in a year.

Investing in wind, solar and hydroelectric will help VW meet CO2 emission limits that it has set for itself by around 2020, the newspaper said.

VW is of course also developing electric cars, along with all other major global auto manufacturers.

Explore further: Ambitious EU targets for renewable energies make economic sense

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BenjaminButton
3 / 5 (2) Aug 26, 2011
Wind power is a joke...the cost base in terms of fitting and maintenance is enormous compared to what they actually generate. It's absolutely idiotic that Germany are shutting down their nuclear power facilities just because of a few cardboard sign waving youth who know nothing about power generation.
CapitalismPrevails
1 / 5 (1) Aug 26, 2011
Wind power is a joke...the cost base in terms of fitting and maintenance is enormous compared to what they actually generate. It's absolutely idiotic that Germany are shutting down their nuclear power facilities just because of a few cardboard sign waving youth who know nothing about power generation.


Yup, and Germany is going to become the new California of the world. Tout itself as being the cleanest, but in reality they are importing most of their heat and electricity from outside their borders. Therefore, creating more pollution because of transmission loss.
antialias_physorg
4 / 5 (1) Aug 26, 2011
Wind power is a joke...the cost base in terms of fitting and maintenance is enormous compared to what they actually generate.

Compared to nuclear, coal and oil (if you take all the ancillary costs and subtract the subsidies they have been getting) wind comes out ahead - only beaten by hydro. It's even slightly better than solar (thermal).
yoatmon
4 / 5 (1) Aug 26, 2011
Wind power is a joke...

I'm so relieved and happy to know that there is at least one person in this world who not only "knows it all" but also knows everything better than anyone else.
Sepp
not rated yet Aug 27, 2011
Nothing wrong with a technology company investing in renewable energy generation. They have done enough damage with the cars they made, by marrying us to the petroleum energy monopoly. Time to make amends...