RWE launches 2 billion euro share issue to fund renewables drive

German utility group RWE launched a bumper share issue to back its expansion into renewable energy, with part of the proceeds to pay for its $480 million (362.6 million pounds) purchase of wind turbine maker Nordex's project development pipeline.The capital increase, representing an increase of 10% in RWE's equity, will be placed with institutional investors via an accelerated bookbuilding process, RWE said in a statement issued after the Frankfurt market close.The bookrunner on the deal said in