Renewable Energy Investments
The most important direct contribution that an energy company can make towards promoting renewable energy is the realization of new renewable capacity.
The total investments in renewable energy in 2006 worked out at €119,000,000. That is a substantial increase compared to 2005. The investments were made in wind energy and heating/cooling. The largest investment amount went to the 108 megawatt offshore wind farm off the coast of Egmond aan Zee, a joint venture with Shell. Nuon finances half of the costs of this part, €110 million, of which €63 million is recognised as an investment for 2006. The remaining amount is stated as an investment in 2005. In addition, Nuon invested €56 millon in heating and cooling networks. The costs of the purchase of the solar energy project Helianthos of Akzo in 2006 are entiredly excluded from the total amount. The solar foil that is being developed cannot yet be seen as new renewable capacity. This also applies to the investments in the new power station Magnum, where biomass can be added to the fuel mix.