Innogy plans wind investments in US, other markets - report

Innogy SE (ETR:IGY), the newly-listed business controlled by German energy company RWE AG (ETR:RWE), intends to build wind parks in the US using proceeds from its fresh initial public offering (IPO), according to a top official.

As previously announced, the company plans to invest about EUR 6.5 billion (USD 7.2bn) through 2018, including in renewables. CEO Peter Terium told Welt am Sonntag that a big portion of the investment will be directed towards networks and infrastructure, but Innogy will also seek to construct wind farms in Germany, Poland, the Netherlands and, for the first time, in the US. Large solar plants are also planned.

The company will be focusing on smaller projects located in areas with difficult wind profiles, he added.

Innogy, which combines RWE’s renewables, grids and retail operations, debuted on the Frankfurt Stock Exchange on Friday after raising EUR 5 billion in the largest IPO in Germany since 2000.

(EUR 1.0 = USD 1.111)

Choose your newsletter by Renewables Now. Join for free!