E ON SE (EONGY)

[Timothy Smith]

E.ON (OTCQX:EONGY) aims to aggressively expand its solar business in the U.S., where it has pipeline of around one gigawatt of solar.

"The cost of photovoltaic has come down much quicker than anyone expected and therefore the growth rate has taken off," said Michael Lewis, chief operating officer of E.ON's renewable unit.

E.ON, which has spent about €10B ($11.5B) on renewables since 2007, owns more than 4.5 GW of renewable capacity.