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RWE officially takes over innogy

4C Offshore | Tom Russell
By: Tom Russell 01/07/2020 RWE
The major asset swap between RWE and E.ON has been completed, with RWE officially taking over the innogy activities. As a result the wind, solar and hydropower businesses as well as the biomass, biogas and gas storage activities have been transferred to RWE.

In the autumn of 2019, RWE acquired E.ON's renewable energy activities, and now the last step is being taken by integrating innogy's operations.

Markus Krebber, CFO of RWE AG, who spearheaded the integration project,commented: "We have 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 programme. This will enable us to strengthen our leading position in the market even further."

RWE ranks among the one world's largest producers of renewable energy. RWE plans net investments of approximately €5 billion in Europe, North America and Asia/Pacific, in order to enlarge its existing renewable energy portfolio to over 13 GW. €1 billion of this sum is envisaged for projects in Germany. In the course of the takeover about 2,700 employees are transferring from innogy to RWE.


Rolf Martin Schmitz, CEO of RWE AG: "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. Our team has an outstanding position – with a strong renewables business, which is channelling all its energy towards growing internationally and can now hit the ground running. With a fleet of flexible and conventional power stations, which build a reliable bridge to the new energy era. And with energy trading operations with the expertise to seize opportunities on global energy markets."

Harnessing the operations of its four subsidiaries RWE Renewables, RWE Generation, RWE Power and RWE Supply & Trading and a portfolio of around 43 GW of generation capacity, the new RWE supplies electricity.

The company has a generation capacity from renewables including hydropower and biomass of approximately 10  GW. RWE intends to further expand this position by making a net investment of up to 5 billion euros in onshore and offshore wind power, photovoltaics and storage through to 2022. In addition, RWE produces electricity from gas, hard coal, lignite and nuclear fuel.

RWE is also investing in innovative projects such as heat storage power plants, the generation and use of hydrogen as an energy source, and additional Power-to-X processes. The Group employs a total of around 20,000 people worldwide and is headquartered in Essen, Germany.


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