German SWS to co-develop wind, bioenergy, geothermal projects - report

Oct 29, 2013 - German utility Stadtwerke Solingen (SWS) will enter into a cooperation project with nine municipal utilities for the development of wind, bioenergy and geothermal plants in Germany, France and Poland, CEO Andreas Schwarberg said.

Schwarberg spoke to regional newspaper Solinger Tageblatt in an interview on Monday.

The company will cooperate with regional energy provider Steag's green power unit Steag New Energies and eight local utilities from the North Rhine-Westphalia province.

The companies will establish a new entity, called Newco, at the beginning of 2014 for the development of the projects. The majority stake of the new company will be held by Steag and SWS will own the rest 49%.

The cooperation project, named Syneergie, is in line with SWS' strategy to expand its share of renewable power in its energy mix. SWS will generate around 50 GWh of green electricity annually under the project, according to Schwarberg.

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