As part of a “streamlining” of its renewables business, RWEnow says it plans to invest some €1bn ($1.36bn) in renewable projects from 2014to 2016.

In September 2013, RWE still maintained that Innogy would investabout €1bn in 2013 alone, to be followed by €500m each in the two followingyears.

RWE didn’t detail how it would split up the €1bn throughoutthe 2014 to 2016 period, but Innogy chief executive Hans Bünting according tothe Süddeutsche Zeitung newspaper said the unit likely will have to reduce the€500m capex figure for this year and next.

RWE