The Sunday Times
Winds of change at RWE
RWE NPOWER has launched a review of its entire £3.5 billion portfolio of wind farms amid soaring building and financing costs.
It has asked banks, including Royal Bank of Scotland, Citigroup and Dresdner Kleinwort, to pitch for a mandate to find partners to buy into new projects to defray costs.
These include its £2.2 billion Gwint y Mor wind farm off the Welsh coast. The 750MW project, the worlds second- largest proposed offshore farm after the 1GW London Array, was given planning approval this month. The company could sell up to a 49% stake, a spokesman said. Industry sources said Scottish & Southern was the most likely partner after the latter sold a 50% stake in its £1.5 billion Greater Gabbard project to RWE last month.
RWE is not alone in rethinking its approach to wind power due to the soaring cost of capital to finance the projects.
Centrica has hired Credit Suisse to find partners for its £3 billion wind-development plans, but that process has been delayed by the difficult credit markets.
Royal Dutch Shell has quit the UK altogether after pulling out of its two remaining projects London Array being one of them in recent months.
James Smith, chairman of Shells UK business, told The Sunday Times: When we think about renewables in the UK, it is going to be biofuels rather than wind.
For RWE a sale would mark the second time it has divested a stake in a UK offshore project, said Will Ainger, of energy news service SparkSpread.
In 2003 it sold a 66% stake in the North Hoyle wind project to Englefield Capital and Arcapita.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
