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RWE pulls plug on international nuclear power business
by Staff Writers
Berlin (AFP) June 18, 2012

German power giant RWE, already hard hit by the government's decision to phase out nuclear power, said on Monday it is similarly abandoning its ambitions in the sector outside Germany.

RWE "will not build any nuclear power plants abroad," a company spokeswoman said, confirming a corresponding report in the Sueddeutsche Zeitung daily.

At the end of March, RWE and its bigger rival E.ON decided they would pull out of their British nuclear power joint venture, Horizon Nuclear Power, the spokeswoman pointed out.

Both companies are have been hit by the government's decision to abandon atomic energy in the wake of the nuclear disaster in Fukushima, Japan, with energy suppliers forced to shut down their profitable large-scale power plants and also having to pay a tax on the reactors' fuel for their remaining lifespan.

According to recent press reports, German power utilities are suing the government for 15 billion euros ($19 billion) in damages over the decision.

RWE was now looking to invest in solar power in particular, the spokeswoman said.


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