CEZ eyes 3 GW of renewable capacity abroad by 2016

Oct 11, 2011 - Czech power utility CEZ AS (PRG:BAACEZ) targets 3 GW of foreign renewable energy projects by 2016, foreign division director Tomas Pleskac announced today.

The company intends to construct wind power plants in countries such as Romania, Poland and Germany. Pleskac said CEZ did not plan to build offshore wind power facilities.

The utility closed the second quarter of 2011 with a net profit of CZK 6.72 billion (USD 368m/EUR 271m), down 40% on the year. Net profit for the first half of 2011 fell 17% to CZK 23.9 billion.

(CZK 10 = USD 0.548/EUR 0.403)

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