Germany

Germany

Utility buys German green marketer in strategic plan

Dutch utility Nuon has bought a 74% stake in German green power marketer Unit Energy Stromvertrieb. "We want to be market leader in eco electricity trading in Germany," says Dirk Kooman, head of Nuon International. The utility will manage Unit Energy Stromvertrieb business jointly with the company's previous owner, Unit Energy Europe of Bad Homburg. Unit Energy Europe is to concentrate on renewables generation, in part to supply electricity for Unit Energy Stromvertrieb customers. "We will continue to expand electricity marketing with Nuon. But Unit Energy will invest little in this sector, says Bernd Weber of Unit Energy Europe. "Our money will flow mainly into new [renewable] power stations. Nevertheless, we are keeping our chances open in electricity trading. We are working on innovative products that will be put on the market shortly."

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