Posted by: Grant | November 14, 2012

Follow The Money

Big German company ditches Renewables.

REUTERS
Germany’s Bosch pulling out of Desertec renewable energy project
FRANKFURT | Mon Nov 12, 2012 3:00pm EST
http://www.reuters.com/article/2012/11/12/bosch-desertec-idUSL5E8MCI0T20121112

” …Bosch, best known for its spark plugs, had invested heavily in solar cells and panels during the German industry’s heyday.
Shareholders of the so-called Desertec Industrial Initiative (DII) include German reinsurer Munich RE, utilities E.ON and RWE, as well as Deutsche Bank .
German industrial conglomerate Siemens announced last month it was leaving Desertec and was pulling the plug on its loss-making solar business as part of a drive to improve profitability…. “

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