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German govt to cut subsidies for solar power, pay more for wind power
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Subsidies for Germany’s solar industry will be cut back more than previously announced to free up funds for offshore wind power plants, sources close to the German environment ministry said.
The government plans to increase the maximum subsidy for wind power to 0.11-0.14 eur per kilowatt hour from currently 0.09 eur, the sources said.
The changes will also force solar power firms to increase the profitability of their facilities if subsidies are cut.
German environment minister Sigmar Gabriel is expected to make a statement on the Renewable Energies Law today.
AFX News Limited
Thompson Financial
5 July 2007
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