It marks a decisive break with the old, traditional model of a vertically integrated energy company that generates energy, transports it and sells it. RWE argues that today the only way to compete in European government auctions for renewable energy subsidies is to go big. Rolf Martin Schmitz, the group’s chief executive, said: “Critical mass is the key in renewable energy. Norway’s Statoil last week rebranded itself as Equinor to reflect its transformation into a “broad energy” company that deploys windfarms as well as oil rigs. “I would view this very much as a test of the right structure for an energy company,” said Feddersen.

Source: The Guardian March 16, 2018 16:02 UTC