RWE says won't build any new nuclear plants

(Reuters) - RWE AG, Germany's second-biggest utility, is abandoning plans to build new nuclear power plants outside its home market, where the government decided last year to phase out nuclear power.

"We will not invest in new nuclear power plants," incoming Chief Executive Peter Terium said.

Like E.ON and peer EnBW, RWE has been hit hard by the German government's decision to phase out nuclear power generation, forcing it to reinvent itself by shedding assets and tapping new growth areas such as renewable power.

"We can no longer afford the financial risks and the surrounding conditions for nuclear power plants," Terium, who is due to take the top job on July 1, said.

Three months ago, RWE and E.ON pulled out of a 15 billion pound ($23.5 billion) plan to build new nuclear power stations in Britain.

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