Solarworld Shares Jump as New EU Rules on Gases May Spur Growth

Shares of Solarworld AG, Germany's second-largest solar-energy company, jumped on expectations that new European Union targets to cut greenhouse gases may spur growth.

The shares rose as much as 1.86 euros, or 3 percent, to 61.76 euros, and traded at 61.60 euros as of 9:36 a.m. in Frankfurt. The Bonn, Germany-based company's stock has gained 29 percent this year, bringing its market value to 3.44 billion euros ($4.52 billion).

German renewable energy companies may double the number of people they employ by 2020 on EU regulations, the newspaper Die Welt reported today, citing Solarworld Chief Executive Frank Asbeck. Exports may gain since European companies are considered ``specialists'' in the field, the newspaper said.

The EU on March 9 agreed to reduce greenhouse emissions by 20 percent by 2020. The EU is targeting a 20 percent market share for renewable energies by 2020.

source:www.bloomberg.com