The Bern-based energy company, BKW, is to invest €430 million (SFr707.9 million) in a move to expand its presence in Germany.This content was published on January 3, 2008 - 08:43
It is to acquire a 33 per cent stake in a planned coal-fired power plant of Electrabel Germany at Wilhelmshaven in the north of the country.
BKW, which has subsidiaries in both Germany and Italy, said in a statement on Thursday the plant would have a high efficiency level and be one of the world's most technologically advanced facilities.
It added that the aim of the venture was to strengthen production capacities in Germany and support BKW sales activities there through its own generating facilities.
The Wilhelmshaven plant is scheduled to go on stream in 2012.
BKW announced last month that it was developing plans with the largest Swiss electricity concern, Axpo, for two new nuclear plants in Switzerland.
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