RWE to sell 65 MW of French, Portuguese renewables to Kelag

13/01/2021 09:08 Renewable


German energy major RWE AG (ETR:RWE) announced it is divesting 65 MW of renewable power plants to Austrian energy utility Kelag.

In all, RWE is selling 19 small-scale hydropower plants (HPPs) in France and Portugal as well as a 3-MW Portuguese onshore wind stake. According to the seller, the power plants were part of its 2019 asset-swap with E.on SE (ETR:EOAN).


The transaction value was not disclosed as the parties agreed to keep the financial information confidential.


The agreement also involves the transfer of 16 jobs to the Austrian energy company. Closure is expected to happen before the end of the year, the announcement says.


RWE, which has a 37.9% stake in Kelag, is focusing on investments in onshore and offshore wind energy, photovoltaics (PV) and storage technologies, it stated.

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