Germany’s grid regulator is forcing EnBW Energie Baden-Wuerttemberg AG, the country’s third-largest electricity supplier, to keep unprofitable power plants open to prevent supply disruptions in Europe’s biggest energy market.
KfW Group, Germany’s state-owned development bank, will take part in the Greek debt swap as it observes growing market concern the southern European country may fail to garner sufficient participation.
Ulrich Schroeder, chief executive officer of German state-owned lender KfW, said medium- and long- term financing markets are “more dramatic” than after the collapse of Lehman Brothers Holdings Inc., according to an interview in Focus magazine.
Europe may soon introduce regulation requiring minimum capital requirements for bonds owned by banks, Handelsblatt said, citing Ulrich Schroeder, who heads Germany’s state-owned development bank KfW Group.
Germany wants to boost lending and hiring in the euro region’s fourth-biggest economy by giving Spanish development bank ICO cheap loans from German state-owned lender KfW Group, Finance Minister Wolfgang Schaeuble said.
Power grid companies seeking to connect planned wind parks off the German coast to the mainland may be able to tap an existing 5 billion-euro ($6.68 billion) financing facility in future, KfW Group said.
E.ON AG , Germany’s largest utility, was the first nuclear power plant operator to start the halt of a facility in the country after Chancellor Angela Merkel ordered safety checks at the country’s seven oldest reactors.