RWE Signs Renewable Energy Deal With 50 Utilities
Europe's fourth-largest utility, RWE of Germany, said on Wednesday it will enter renewable energy projects with municipal utilities to lower its output of carbon dioxide. RWE said it had signed a letter of intent with the ARGE group of 50 local utilities for power projects using sources such as wind and biomass in Germany and abroad. Chief Executive Juergen Grossmann wants to cut carbon dioxide emissions as allowances to emit the greenhouse gas, given out under a European Union-wide scheme, are made scarcer and costlier to moderate global warming.