Solar Developer Conergy Caps Turnaround With Investment From Giant EU Utility RWE

Solar developer Conergy’s dramatic business turnaround now has a cherry on top — in the form of a just-announced minority equity investment from the energy trading arm of giant European utility RWE.

The investment comes as part of a larger equity funding round led by majority owner Kawa Capital Management, which acquired Conergy in 2013. RWE is a fossil-fuel- and nuclear power-based utility and its renewables holdings are in wind and biomass. Investing in a growing solar developer is a good way to earn solar street cred and share in the short-term solar profits.

The cash infusion follows …read more

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