RWE's UK renewables arm changes name to RWE Innogy

German utility giant RWE's renewable energy arm in Britain has changed its name to RWE Innogy UK from RWE npower. The company said the name change clarifies the firm's position as a UK subsidiary of RWE Innogy.

"The change of name is in response to a number of factors, which includes feedback from external stakeholders and, very importantly, employees who want to feel more integrated with one of Europe's largest renewable energy companies," Hans Bünting, chief executive of the parent company, RWE Innogy GmbH, said.

On Jan. 15, RWE said it would curb spending at Innogy. This would be the latest cutback in a power sector crisis that has pushed many of the group's coal and gas plants into losses.