RWE wraps up acquisition of Innogy's renewable energy ops

03/07/2020 09:40 Renewable

news

German energy major RWE AG said on Wednesday that its complex asset-swap with rival E.on SE is now fully completed, creating a massive renewable energy business.

RWE has taken over the renewables operations of former unit Innogy SE, now part of E.on, along with its gas storage businesses and its interest in Austrian energy utility Kelag. The renewables portion of the transaction includes wind, solar, hydropower, biomass and biogas assets.

 

The transfer also involves 2,700 employees, the announcement says.

 

After taking over E.on’s own renewable energy activities last autumn as well, RWE ended up with more than 9,000 MW of installed renewables. Now, it intends to invest about EUR 5 billion (USD 5.65bn) in Europe, North America and the Asia-Pacific region to boost its renewables portfolio to more than 13 GW. According to the company, some EUR 1 billion of that will be spent on German projects.
Source: renewablesnow.com
 

Daily (17.09.2020): An unexpected drop in US crude inventories boosted WTI crude by 5% on Wednesday

17/09/2020 13:33:00

Daily (17.09.2020): An unexpected drop in US crude inventories boosted WTI crude by 5% on Wednesday

<READ MORE

Vattenfall repowers Dutch community wind farm

17/09/2020 09:18:00

38MW Jaap Rodenburg will host 10 turbines two of which will be owned by Almeerse Wind

READ MORE

European geothermal sector joins call for carbon price on heating and cooling

17/09/2020 08:58:00

The European Geothermal Energy Council is advocating for a carbon price to be put on heating and cooling in the European Union. Only with a fair price for all forms of energy and the real cost attached will it be able to reach the ambitions carbon neutral goal by 2050.

READ MORE