E.on turns back on offshore wind at all-time low prices

At the current price level, Germany's E.on will not be investing further in offshore wind farms.

Photo: EON

German utility E.on does not plan to invest in any more offshore wind farms in the current price environment. The prices are too low to generate sufficient returns, says the company's CFO Marc Spieker, according to Bloomberg News.

Both Denmark's Dong Energy and German Energie Baden-Württemberg recently secured rights to projects in the German part of the North Sea, nabbing these projects ahead of E.on. Two of which were won by Dong with zero-subsidy bids, meaning without any state-subsidies per Mwh.

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