VW will reportedly dish out two billion euros ($1.4 billion U.S. at the current exchange rate) over the next two years to get more involved with renewable energy. FTD reports that VW will seek out and secure a, "partner for ecological power generation" by year's end and will detail its grand renewable energy plan in the near future.
It's believed that much of VW's renewable energy work will focus on offshore wind farms in the North Sea, with some money set aside for solar and hydropower. This investment should lead to electric automobiles becoming a bit closer to true "zero-emissions" vehicles in some areas of Europe. The timing is good for VW, so, since its electric vehicles won't be here for a few years.