Utility E.ON AG (EOAN.XE) plans to invest around EUR1.5 billion a year in renewable energies over the long-term, said Cord Landsmann, chief executive of E.ON's renewable energy unit, Climate & Renewables, Monday.
The company plans to install around 1 gigawatt of renewable generation capacity a year, Landsmann said at a renewable energy financing conference in Frankfurt.
E.ON has previously said it intends to invest around EUR6 billion in renewable energies between 2007 and 2010, focusing on onshore and offshore wind energy.