Renewables

RWE boosts renewables portfolio to 9 GW after asset swap with E.ON

Asset-swap-RWE-EON-renewable-energy

Photo: RWE

Published

July 3, 2020

Country

Comments

comments icon

0

Share

Published:

July 3, 2020

Country:

Comments:

comments icon

0

Share

The major asset swap between RWE and E.ON is finally completed, as RWE took over innogy’s operations and becomes one of the world’s largest producers of renewable energy.

The German company now has a renewables portfolio of 9 GW while 2.6 GW is under construction. According to most estimates, RWE is now the second-largest offshore wind operator and the third-largest European operator of renewables.

It said net investments of approximately EUR 5 billion are in the pipeline in Europe, North America and Asia-Pacific in order to enlarge active green energy assets to over 13 GW. About EUR 1 billion is envisaged for projects in Germany.

As a result of the swap between RWE and E.ON, the wind, solar and hydropower businesses were transferred to RWE together with biomass, biogas and gas storage activities.

Another unit that was transferred was innogy’s stake in Austrian power utility Kelag, which supplements the portfolio perfectly with the hydroelectric power business, the utility said in a press release.

In the autumn of 2019, RWE acquired E.ON’s renewable energy activities, and the last step was to integrate innogy’s operations.

“This is the day we have been working towards for two years. The new RWE has been completed. It is a new, bigger and more diverse company, with a clear goal. By 2040, we will be carbon neutral. This will take us far beyond what other companies are aiming for,” said Rolf Martin Schmitz, CEO of RWE AG.

Markus Krebber, CFO of RWE AG, said the company has a wonderful starting point.

“A huge worldwide renewables portfolio, two teams that complement each other perfectly with many years of experience, and a strong investment program,” he added.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

croatia zagreb solar public buildings tomasevic

Zagreb on track to reach almost 20 MW of solar on public buildings

24 April 2025 - In 2021, Croatia's capital presented the Sunny Roofs program for the installation of photovoltaic plants with a combined capacity of 50 MW

montenegro cedis DSO distribution grid investments

Montenegro’s CEDIS to invest EUR 30 million in distribution grid

24 April 2025 - The increase in investments demonstrates CEDIS's greater ambitions year after year and that grid works are becoming more intensive and demanding

Constitutional Court Bulgaria exemptions renewables agricultural land

Constitutional Court of Bulgaria annuls exemptions for renewables on agricultural land

24 April 2025 - Investors in agrivoltaics and other renewables on agricultural land face higher expenses and longer procedures as exemptions were scrapped

GWEC Record wind power capacity installed globally in 2024

GWEC: Record wind power capacity was installed globally in 2024

23 April 2025 - New wind turbine installations reached an all-time high 117 GW last year, just above the 2023 level, Global Wind Energy Council (GWEC) found