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The Price Of Green Energy: Manufacturers Investing Outside Germany

Metal Bulletin

Energy-intensive manufacturers are starting to make investments outside Germany because of its rising energy costs, a trend that will include the copper industry, the ceo of German copper producer Aurubis said.

Bernd Drouven said that the closure of Germany’s nuclear plants and high but unrealistic targets in renewables mean companies are taking their planned-growth investments to other countries. “Industry is not likely to move out of Germany – what will happen will be a reallocation of capital, and that is already happening,” he said, noting that in the chemicals industry, large companies are not investing in Germany any more.

“Job cuts due to closures are not easy, so it’s far easier for companies to maintain operations in Germany at existing levels, but see their expansions and future growth elsewhere,” he told Metal Bulletin in an interview.

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