• 4 minutes Will Libya Ever Recover?
  • 9 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 13 minutes What Can Bring Oil Down to $20?
  • 16 minutes Venezuela continues to sink in misery
  • 18 hours Alberta govt to construct another WCS processing refinery
  • 5 hours Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 9 hours Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 9 hours Instead Of A Withdrawal, An Initiative: Iran Hopes To Agree With Russia And Turkey on Syrian Constitution Forum
  • 20 hours Let's Just Block the Sun, Shall We?
  • 10 hours Water. The new oil?
  • 6 hours Storage will in time change the landscape for electricity
  • 2 days Quebecans Snub Noses at Alberta's Oil but Buy More Gasoline
  • 2 days U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 2 days OPEC Cuts Deep to Save Cartel
  • 9 hours Regular Gas dropped to $2.21 per gallon today
  • 2 days Global Economy-Bad Days Are coming
Natural Gas Plunges As Oil Prices Consolidate

Natural Gas Plunges As Oil Prices Consolidate

Consolidating oil prices and low…

Has OPEC+ Stabilized Oil Markets?

Has OPEC+ Stabilized Oil Markets?

According to the IEA, OPEC+…

German Bank to Invest €100 billion in Renewable Energy Over Next 5 Years

Germany’s government run, national infrastructure bank KfW Bankengruppe has just announced that it will increase its investment in renewable energy and energy efficiency projects to €100 billion over the next five years.

It already expects to report an environment quota of 36 percent in 2012, up from 32 percent last years; but this figure will increase by a lot more as the new capital is invested in projects.

Dr. Ulrich Schröder, the chief executive of KfW, has said that the increase in investment is only the first part of a five year plan which will see the bank at the centre of Germany’s transition away from nuclear power to other sources of renewable energy, as it looks to slash its greenhouse gas emissions.

“In implementing the project of the century, the energy turnaround, KfW has taken responsibility as a promotional bank. In the next five years we intend to extend loans totalling €100bn for renewable energies and energy efficiency.”

News of Germany’s national infrastructure bank coincide with proposals by the UK Labour Party to create a New Investment Bank which will have the sole responsibility of financing government-backed infrastructure projects.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment
  • petrossa on August 13 2012 said:
    'renewable energy'

    Missed the class about the law of conservation of energy i guess.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News