innogy News
On April 1, 2024, Dr. Catharina Friedrich will take over the management of the Westenergie subsidiary - DigiKoo GmbH, which provides municipal utilities, municipalities, network operators, and utility companies with data as well as analysis and forecasting systems for shaping the energy transition. As a member of the board of Rhenag Rheinische Energie AG, Friedrich has previously been responsible for the utility company's operational energy business and succeeds Martin Möller, who will lea...
After 22 years with RWE and innogy and later at E.ON, Bernhard Günther will leave E.ON on December 31, 2020. Over the course of his career, he has performed various key roles covering all areas of finance. Günther began his career in the Group Controlling department before switching to RWE Power, and there and within RWE AG he quickly took on managerial tasks before becoming CFO of RWEST, RWE’s trading business. He was later appointed CFO of RWE AG and then innogy SE in 2016. In...
German Energy Company E.ON SE and MVM Group signed an agreement regarding the sale of innogy SE’s entire electricity and gas retail business in the Czech Republic, innogy Ceska republika a.s., for an undisclosed amount. The transaction is subject to the approval of the European Commission and is expected to close before year-end. innogy is currently supplying 1.2 million gas customers and 0.4 million electricity customers in the Czech Republic. The final step This transaction marks the...
The merger squeeze-out was entered into the Commercial Register – this concludes the final step in E.ON’s takeover of innogy. “We’re very pleased that today we completed the final major step in the full takeover and integration of innogy. In the months ahead, we’ll focus on the practical integration of all former innogy operations into our Group. Throughout this process, we’ll ensure that our customers’ interests will continue to always have priority,&rd...
In September, E.ON informed the innogy management board about its intention to carry out a merger of innogy SE into E.ON Verwaltungs SE, excluding the remaining minority shareholders (so called 'merger squeeze-out'). E.ON currently holds 90 percent of all innogy shares through E.ON Verwaltungs SE, an E.ON group company. E.ON informed the innogy management board that the appropriate cash compensation to be paid to innogy’s remaining minority shareholders is €42.82 per innogy share.&nb...
Federal Minister of Economics Peter Altmaier handed over the funding notice to the first "real laboratory of the energy transition". The "SmartQuart" project, which was developed by a consortium of nine partners, can start in January 2020. The project aims to make the use of fossil fuels in the project quarters largely superfluous. In the cities of Essen and Bedburg in North Rhine-Westphalia and Kaisersesch in Rhineland-Palatinate, the individual city districts will be networked with each other...
E.ON has received a major order from the BMW Group: the company will install and operate one of the largest charging networks in Germany, at BMW Group locations. In the future, BMW employees and guests will be able to recharge their electric vehicles comfortably and cheaply with green electricity at more than 4,100 new charging points in the parking lots of production plants, development centers, and office locations. Around half of the charging points will be accessible to the public. The firs...
The Ruhr metropolises of Essen and Dortmund will remain very important locations for the E.ON Group, after the takeover of innogy by E.ON. This was confirmed by the energy company. Essen remains the energy capital of Germany and will continue to be the central location of the new E.ON in Germany. Essen will remain the headquarters of the group and of all national and international network control functions. In addition, the newly founded holding company of Germany's largest distribution network...
Electric mobility in Germany is accelerating: More and more people are changing over to climate-friendly electric vehicles. According to the latest plans of the German government, ten million vehicles on German roads will be electrically powered by 2030. This means a fundamental change for the entire system: for private individuals, companies, network operators, and energy suppliers. electrification of transport The increasing number of charging stations leads to a rising demand for elec...
E.ON has signed a new €3.5 billion syndicated credit facility with a term of five years and two options to extend the maturity by one year each. In addition, the volume can be increased by up to €0.75 billion during the lifetime of the facility. With the new facility, E.ON pushes ahead with the financial integration of innogy SE: the facility replaces the two previously existing syndicated credit facilities of €2.75 billion of E.ON SE and €2 billion of innogy SE. Moreov...
As part of the transaction to acquire and integrate innogy, E.ON transferred its renewables business to RWE. For E.ON, the disposal of E.ON Climate & Renewables marks the end of an extraordinary success story. Industrial-scale renewables facilities had been a key focus of E.ON’s growth strategy since 2007. Investments of more than €12 billion enabled E.ON to quickly become one of the world’s major producers of green power. Onshore wind farms like Roscoe, a 782 megawatt (MW)...
The designated management team of the new E.ON at the level directly below the management board has largely been determined. The names of those selected for the non-competitive positions were published on Monday at E.ON and innogy. The future management team that has been named so far will consist of half E.ON and half innogy executives. "We promised a fair and transparent selection process for employees from both companies. Of course, the most important criteria were qualifications: We looked...
The employers' associations and the trade unions, ver.di and IGBCE, have agreed on a comprehensive collective agreement for ‘Future and job security’ for the employees of the new E.ON in Germany. The agreement is an important step in implementing the ‘Collective Policy Statement’ on the planned transaction between E.ON and RWE agreed between the company and the unions in May 2018. Among other things, it includes provisions on attractive severance payments for employees l...
On September 18, E.ON SE completed the acquisition of RWE’s 76.8% stake in innogy. This transaction is a major step in their goal to become a company that shapes the future of energy with a visionary focus. Customers are at the center of the new, decentralized energy world, those companies that best understand the customer and have the innovative edge will prevail. Attractive value and growth The new E.ON has a clear focus on intelligent networks and customer solutions, achieving a favo...
Immediately after the successful takeover of innogy, E.ON's Supervisory Board is to be expanded by six to 20 members for a limited period until its new election in 2023. “For successful integration, we will also need experience and know-how from innogy in the Supervisory Board of the new E.ON on both the shareholders' and employees' side,” said Karl-Ludwig Kley, Chairman of the E.ON Supervisory Board. Additional representatives Three additional shareholder representative...
E.ON, the Essen-based energy company, has reached another milestone on the road to integrating innogy by submitting its application to the EU Commission. “With the filing of the transaction in Brussels, we have taken an important step towards our goal of implementing the transaction agreed with RWE to acquire innogy from mid-2019. We are also well on track to prepare the planned integration of innogy and are making good progress,” said Johannes Teyssen, CEO of E.ON SE. modern c...
innogy concluded two legally binding agreements – one with E.ON, another with RWE – on the planned integration of innogy into E.ON and the planned integration of innogy’s renewables business into RWE. The agreements call for the planned transaction to be implemented in a transparent process in which all employees will be treated fairly and as equally as possible, regardless of which company they currently work for. In addition, the integrations shall take into account the str...
Following E.ON SE’s voluntary public takeover offer for all innogy stock, its Supervisory Board has responded to the agreed-on transaction by enlarging the E.ON SE Management Board effective June 1, 2018: Leonhard Birnbaum (51), who is currently responsible for E.ON’s network and renewables businesses, will become Chief Operating Officer Integration and lead the swift implementation of the agreed-on transaction with RWE and the successful integration of innogy SE. Birnbaum will cont...