(SeeNews) - Aug 28, 2012 - German utility E.on (ETR:EOAN) wants to expand in the US solar market, planning to install capacity of 120 MW annually from 2015, Mike Winkel, CEO of the company's renewable unit, told Reuters.
E.on will build its first US photovoltaic (PV) plant with a capacity of 8 MW in Arizona.
The company has a total clean power capacity of 9,000 MW and wants to invests about EUR 7 billion (USD 8.8bn) over the next five years to expand its renewable business.
E.on has been so far focusing mainly on wind power. It wants now to decrease its investment costs in the offshore segment by 40% between 2010 and 2015, Winkel said.
(EUR 1.0 = USD 1.257)