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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

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    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    GE’s digital power transformers selected for multiple projects across the globe

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    bp to invest up to £18 billion in UK energy system by 2030

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    Kier to deliver onshore converter station for offshore wind project in the north east

    Statkraft seeks planning nod for 49.9-MW Scottish wind farm

    VSB Group Expands in France with Acquisition of 143.5 MW Wind Power Portfolio

    Norway to invest in renewable projects in developing countries

    Italian Solar Farms, Matrix in Strategic Partnership with Energia Aljaval

    China installed 48.2 GW of new solar capacity in 2020

    Solek Group signs deal to build solar power plants in Chile

    Trina Solar betting on largest wafer size and third cut cells for 500W-plus modules

    TotalEnergies to Acquire SunPowers Commercial & Industrial Solar Business

    Vattenfall Wind

    UK Government grants consent for Vattenfall’s Norfolk Vanguard Offshore Wind Farm

    New DNV GL class rules for floating offshore wind energy expands industry horizon

    Norway to launch 1.5 gigawatt offshore wind tender

    Atlas and Hitachi to develop energy storage systems for renewable projects

    Velto Renewables supports the 360 MW offshore wind farm London Array

  • Market Moves
    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

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    GE’s digital power transformers selected for multiple projects across the globe

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Home Press Statements

E.ON to invest Eur27 billion by 2026 into Europe’s energy transition

in Press Statements, Wind Energy
E.ON UK to combine Industrial & Commercial unit with npower Business Solutions

E.ON plans to significantly increase the pace of its businesses’ growth and digitalization. With the growth strategy until 2026 presented today at a virtual Capital Markets Day, E.ON promises continual increases in operating earnings as well as the dividend, which is to be larger than previously planned. For the first time, the Group also extended its forecast timeframe from three to five years.

E.ON intends to increase EBITDA in its core business (that is excluding PreussenElektra’s soon-to-be-discontinued nuclear energy operations) by about 4 percent annually to around €7.8 billion in 2026. To lay the foundation for this ambitious growth, E.ON will invest a total of roughly €27 billion through 2026, of which around €22 billion will go toward expanding its energy networks and €5 billion toward accelerating the growth of its customer solutions business. In addition, E.ON intends to increase its dividend by up to 5 percent annually through the 2026 financial year and its earnings per share by 8 to 10 percent annually. For the 2021 financial year, E.ON plans to propose a dividend of 49 cents per share.

E.ON intends to carry out the entire growth program while maintaining its strong rating and an unchanged debt factor. For this purpose, E.ON will further optimize its portfolio, through which it expects to generate proceeds of roughly €2 to €4 billion in the next five years. Portfolio optimization will consist of the divestment of businesses that do not fit with the tripartite strategy of growth, sustainability, and digitalization that E.ON presented today, as well as selective partnerships.

Major investments in power distribution networks, the backbone of the green energy transition

E.ON intends to substantially increase its investments in energy networks by roughly €1 billion annually through 2026. This will enlarge the company’s regulated asset base (RAB) by at least 6 percent per year. E.ON’s network companies in Europe operate networks with an aggregate RAB of around €35 billion and are home to about 1 million distributed renewable generating facilities.

Resolute expansion of customer solutions business

E.ON perceives robust growth in the demand for decarbonization among residential, business, and industrial customers as well as cities and communities.

Attractive financial framework fully aligned with sustainability

The Group’s entire investment program is fully focused on sustainability.85 to 90 percent of E.ON’s planned investment activities that fall within the scope of the taxonomy fulfil its strict sustainability criteria. In addition, E.ON reaffirmed its target of a strong BBB/Baa rating and a debt factor of 4.8 to 5.2 times EBITDA. The company confirmed its dividend policy for the next five years. For the 2021 financial year, E.ON plans to propose a dividend of 49 cents per share. This corresponds to a growth of 4% compared to the previous year. E.ON is also aiming for annual dividend growth of up to five percent through 2026 and additional growth further out. Earnings per share are to increase by 8 to 10 percent per year on average.

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News

bp to invest up to £18 billion in UK energy system by 2030

May 14, 2022
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News

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