RWE, Abu Dhabi investor discuss renewables in Gulf region - report

German energy group RWE AG (ETR:RWE) is holding talks with an unnamed Abu Dhabi investor about the joint development of renewable energy projects in the Gulf region, its head said as cited by Reuters on Tuesday.

CEO Peter Terium told the news agency that the parties are discussing potential solar and wind projects as well as initiatives in the areas of networks and wholesale markets. Terium said, as cited by Reuters, that the negotiations are not focused on a stake purchase in the German utility, but still he did not rule out the possibility.

The potential collaboration is expected to start in the UAE and possibly expand to other markets in the future, according to the CEO.

RWE already has a consulting services joint venture in the region, which it formed with state-run utility Dubai Electricity & Water Authority (DEWA) in 2012.

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