Global energy giant RWE is on the “home straight” of its asset swap with E.On and establishing itself as a renewables powerhouse, the company said today.
RWE has ‘frozen’ it’s planned 100MW battery at the proposed Tilbury Energy Centre amidst concerns that the project’s Combined Cycle Gas Turbine (CCGT) would not be able to secure Capacity Market contracts.
E.On has posted a 10% rise in half-year earnings, bolstered by strong performance from its core business units as its acquisition of innogy appears in the horizon.
The E.On and RWE asset swap has edged closer after the former successfully completed a voluntary public takeover offer to minority shareholders of RWE’s innogy unit.
The heads of some of Europe’s most significant energy companies and associations have urged the UK and the European Union to place continued energy alignment as a priority during Brexit negotiations.
German power giants RWE and E.On confirmed they have reached a contractual agreement for their proposed major asset exchange, but a late expression of interest from Macquarie could yet scupper the deal.