Sentences with phrase «utility innogy»

German utility Innogy reported a 16 % boost in profits at its renewables business in the first quarter, as it braces for a key role in a planned $ 4.9 bn ($ 5.9 bn) merger between parent group RWE and E.ON that its own board has questioned.

Rival utility Innogy, which as second - placed had just missed winning the Dutch zero subsidy tender, won in the German tender with its 325MW Kaskasi project with a bid that it says was above the average winning price.

Not exact matches

Deepa Venkateswaran, a senior analyst in European utilities at Bernstein, told CNBC that the deal represented a reversal for RWE after the IPO of Innogy.

Among the largest deals clinched this quarter were U.S. health insurer Cigna Corp's $ 67 billion deal to acquire U.S. pharmacy chain Express Scripts Holding Co and German utility E.ON SE's $ 38.5 billion deal to acquire RWE AG's renewable energy business Innogy SE.

Klaus Muller, manager of the Federation of German Consumer Organizations, for example, notes that «the takeover of RWE's stakes in Innogy by EON will lead to a higher concentration of utilities in the German energy market.»

For background, read the CLEW piece Deal between utilities E.ON and RWE set to reshuffle German energy market and the article RWE and E.ON overhaul power sector - German reactions to innogy deal.

First, E.ON will acquire RWE's 76.8 % stake in Innogy — a renewables company created in April 2016 as RWE spun off its renewables, retail, and grid businesses — and RWE will pay E.ON $ 1.5 billion to take on Innogy's renewables business, along with E.ON's minority stakes in two RWE nuclear plants (Emsland and Gundremmingen), Innogy's gas storage business, and Innogy's participation in hydro - rich Austrian energy utility Kelag.

German power company innogy SE - the renewables arm of utility RWE - has completed its purchase of Belectric Solar & Battery.

Furthermore, Eon and Innogy have invested money in the development of new innovation processes (e.g. both make use of innovation hubs and accelerator programs) that aim at developing new digital business models for utilities.

While this is a rather new business area for energy utilities, Eon and Innogy share the vision that digital consumer solutions rather than generation should become the focus of energy utilities in the future.

Eon and Innogy share the vision that digital consumer solutions rather than generation should become the focus of energy utilities in the future