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E.ON takes $1.4bn bet on US renewables

windZe Germans are coming, into the US market at least. Big utility firm E.ON has taken a $1.4bn bite into the American renewable energy market, reports Reuters.

The deal includes a bunch of wind farms and gets it into some 210MW of capacity in the US and Canada, with another 880MW coming on board by 2009. Plans are in place for another 6000MW, taking it to a total of some 7000MW over time.

Earlier this year, the firm bought into similar schemes in Spain and Portugal, so it’s betting large on renewables. We’re sure it’s shareholders will be watching closely to see whether the gamble pays off…

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