MVV Energie to invest in Baden-Wuerttemberg's wind energy

(ADPnews) - Jun 29, 2011 - German utility MVV Energie (ETR:MVV1) will invest in the development of wind energy in Baden-Wuerttemberg, CEO Georg Mueller said.

By 2020, MVV will invest a total of EUR 1.5 billion (USD 2.2bn) to support the energy turnaround and increase the amount of renewable energy sources in its portfolio.

The goal of Baden-Wuerttemberg's government to bring the share of wind power in the state's energy mix to at least 10% by 2020 is "ambitious but doable," Mueller said.

At the same time, Mueller spoke in favour of reforming the way onshore wind power installations are subsidised. According to him, the limited time for which subsidies are paid out prevents wind farms from realising their full subsidy potential.

Mueller warned against giving preference to offshore while disregarding onshore wind energy. In his view, the advantages of onshore wind can be used to accelerate the transition to clean energy. Several scientific studies show that Baden-Wuerttemberg in particular has large untapped potential of onshore wind, he said.

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