VW to Invest €1 Billion in Renewable Energy Production

Volkswagen seems committed to increase its renewable energy production as it plans to invest close to €1 billion ($1.44 billion) over the next two years, according to a report from Financial Times Deutschland.

This is a significant increase compared to the end of June announcement of a €600 million ($868 million) investment. VW is, reports the newspaper, interested in buying at least two offshore windparks and it is possible that it will announce a partnership with windpark developer Windreich before the end of 2011.

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