RWE Innogy, one of the world’s five largest operators of offshore wind farms , said that by combining renewables, grid and retail operations in one subsidiary with its own access to the capital market , it is laying the foundation for further growth in these fields.
As part of a capital increase, RWE intends to float around 10% of the shares in the new company on the stock market towards the end of the year. “According to current planning, over half of the proceeds of the flotation will be earmarked for the further expansion of renewable energies,” said Peter Terium , CEO of RWE AG.
Hans Bünting , CEO of RWE Innogy, said: “We will maintain our current successful course and examine the technologies and regions in which we can grow. Unlike in the past, however, we will not be setting ourselves targets measured in installed megawatts. After all, the primary focus is return on investment.”
“Overall, we see four major pillars for further growth: increasing shares in projects, organic growth in onshore and offshore wind, entry into new markets and expanding the portfolio to include large PV projects,” Bünting said.
In the renewable energies sector, RWE also sees growth opportunities for onshore wind in new markets such as Ireland, the United States and the MENAT region (Middle East, North Africa and Turkey). In addition, RWE is planning a separate business area for large photovoltaic projects. Investments will centre on sunny locations like the MENAT region, the company said.