Arab Today, arab today german energy firm rwe \may sell britain\s npower\
Last Updated : GMT 06:37:29
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German energy firm RWE \'may sell Britain\'s Npower\'

Arab Today, arab today

Arab Today, arab today German energy firm RWE \'may sell Britain\'s Npower\'

London - AFP

Germany\'s second largest power company, RWE, may sell Npower, one of Britain\'s biggest electricity suppliers, in a deal worth £5 billion, a report said Sunday. RWE was considering the sale because it has large debts, needs to invest billions in a new generation of green power stations and also because of \"dissatisfaction\" with British energy policy, the Sunday Times said. Spanish power group Iberdrola is a likely buyer for Npower, which employs 11,000 people and supplies electricity to around 6.8 million homes in Britain, the newspaper said, citing insiders. Npower made profits of £245 million (271 million euros, $394 million) on sales of £7 billion last year. RWE has hired Goldman Sachs to review Npower\'s future, the Sunday Times reported. The British government is reviewing its energy policy to encourage investment in nuclear and wind power and penalise old fossil fuel plants.

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