- 19 small hydropower stations in France and Portugal to be sold
- Transaction involves assets with a capacity of about 65 megawatts
RWE is to sell its 19 small-scale hydropower station portfolios in France and Portugal as well as its small Portuguese onshore wind stake of 3 megawatts, representing a total capacity of 65 megawatts (pro-rata), to KELAG, an Austrian energy utility based in Carinthia (Kärnten). Under the terms of the deal, 16 employees will also transfer to KELAG. The power plants moved to RWE as part of its transaction with E.ON in 2019. The transaction will become effective as of 1st of January 2021; closing is expected in the course of 2021. The parties involved have agreed to keep the purchase price confidential.
RWE has a stake in KELAG since 2001, with a current shareholding of 37.9%. In autumn 2020 the state of Carinthia and RWE agreed to continue their successful partnership for a further decade. By working together they aim to further expand and bolster the position of KELAG as a leading energy utility and centre of competence for hydro-electricity. This transaction is an important step towards this goal. RWE’s main focus, as part of the expansion of renewables, is to invest in onshore and offshore wind power, photovoltaics and storage technologies.
RWE is one of the world’s leading companies for renewable energies. The company has a capacity of about 10 gigawatts based on renewables including hydropower and biomass as well as an efficient gas fleet and an internationally active energy trading business. RWE wants to expand its position by investing in onshore and offshore wind power, photovoltaics and storage technologies. As a driver of the energy transition, the company is also focusing on innovative projects such as floating offshore and the production and use of hydrogen. In addition to its core business, the company generates electricity from nuclear energy and coal; state-defined exit paths have been set for both energy sources. In total, the company owns a portfolio of around 44 gigawatts of generating capacity and employs around 20,000 people worldwide. RWE has a clear target: carbon neutrality by 2040.
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