November 21, 2008 / 7:52 AM / 11 years ago

RWE CEO says eyes more nuclear power projects-paper

FRANKFURT, Nov 21 (Reuters) - German utilities group RWE AG (RWEG.DE) is considering investing more in nuclear power plants in eastern Europe and the Baltic states, Chief Executive Juergen Grossmann told German newspaper Financial Times Deutschland.

“There are plans to build a new nuclear power plant in the Baltics. When a decision is made on the project, we will take a look at it,” he said in an interview published in the newspaper on Friday.

In Lithuania, there are plans to build a new power plant with a total investment of 4 billion euros ($5 billion) to 5 billion. The plant is expected to come online in 2018.

Financial Times Deutschland said RWE could cooperate with Polish partners on the project.

With growing pressure from the European Union to cut carbon dioxide emissions, utilities are returning more of their focus to nuclear power. RWE’s main business is with coal-fired plants.

Germany’s second-biggest utility already has some plans to expand its business in eastern Europe. On Thursday, it said it planned to take part in a consortium financing two blocks of nuclear power plant Cernavoda in Romania. And in Bulgaria the company aims to buy 49 percent of power plant Belene. (Reporting by Maria Sheahan; Editing by David Holmes)

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