Innogy plots €1.2 billion investment in solar and other techs

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Image: RWE.

Innogy has outlined plans to invest as much as €1.2 billion in solar and other technologies as part of a new strategy to target a top three market position in various activities.

Yesterday the Germany-headquartered power company, spun out of RWE last year, revealed that it was embarking on a new strategy centred around “the four Ps”, chiefly market position, performance, portfolio and partnerships.

Central to this strategy is the stated aim of being within the top three position of all of its relevant markets by 2025 with investments of up to €1.2 billion lined up over the next year to achieve that.

And solar is one of three technology areas – alongside emobility and glass fibre networks – that innogy has big ambitions for.

Earlier this year innogy completed the acquisition of solar PV and battery storage developer Belectric, a deal which innogy said provided it with a leading utility-scale solar developer.

Now innogy wants to take this further and cement its position in Europe and North America while also targeting “selected emerging countries” in the “still highly fragmented market” of large-scale solar.

Innogy has not revealed which emerging markets it could target specifically, however chief executive Peter Terium said the refinement of the company’s strategy was designed to “take full advantage” of its “head start” in particular fields.

“If you want to be successful in the energy world of tomorrow, you will need economies of scale and profitability, along with the respective skills. With the four keywords of “Position, Performance, Portfolio and Partnership”, we’ve placed our strategic focus on precisely these critical success factors,” he said. 

Read Next

April 9, 2021
Spanish independent power producer Opdenergy is preparing to launch an initial public offering to help fund the development of 3.7GW of renewables projects across Europe and the Americas.
April 8, 2021
Green hydrogen may become cheaper than natural gas by 2050, falling by 85% over the next 30 years, but declining costs in the solar sector will be crucial for the nascent technology's growth.
April 8, 2021
Iberdrola has formed a strategic alliance with insurance company Mapfre that will initially invest in 230MW of clean energy projects in Spain, including 130MW of solar PV.
April 7, 2021
Norway’s sovereign wealth fund is eyeing potential investments in solar generation assets after making its first foray into renewables infrastructure.
April 6, 2021
LONGi Green Energy has confirmed the creation of a new business unit centred around the world’s nascent green hydrogen market.
April 1, 2021
US President Joe Biden has heaped importance on clean energy research and development, arguing it to be pivotal to boosting the country’s economic recovery within a multi-trillion-dollar infrastructure stimulus package.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET