RWE’s renewable unit, innogy, debuts on stock market

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
innogy intends to use the EUR 2 billion gained from stock sales to fund a number of investments. Image: RWE

innogy, the renewables unit of RWE, made its debut on the stock exchange Friday — orchestrating the largest IPO in Germany since 2000. 

The final official price of EUR 37,30 per innogy share was above the final placement price of EUR 36. Following the start of trading, innogy will be supported by its majority shareholder — RWE AG — along with a varied investor group. RWE, who boasts a 75% claim of innogy, will receive proceeds of EUR 3 billion from the sale of existing shares.

innogy intends to use the EUR 2 billion in proceeds from the placement of these shares to finance future investments in the renewables and grid & infrastructure business areas, as well as in retail innovations.

Peter Terium, chief executive officer of innogy SE, said: “Ten months ago, we set out with a very ambitious goal – to create an innovative green energy company, which has the strength and independence to define the energy of the future. Today has shown that we are on the right track.

“With today’s IPO, we have put behind us an important but tough piece of work. Yet the real task still lies ahead of us. Our investors trust us and we intend to capitalise on that tailwind. When talking to our employees, there is a clear sense that we will join together in harnessing this unique opportunity to rethink energy and actively shape the energy transition.”

With 40,000 employees, the innogy group has set its goals on an EBITDA of between EUR 4.3 and EUR 4.7 billion next year. In total, innogy plans to invest around EUR 6.5 billion in its three core business areas — Grid & Infrastructure, Renewables and Retail between 2016 and 2018.

Read Next

December 20, 2021
Elevion, the renewables arm of Czech conglomerate ČEZ Group, is targeting growth within Europe’s PV market after closing the acquisition of Belectric’s European assets.
December 8, 2021
RWE is to invest up to €15 billion (US$16.92 billion) into its renewable portfolio in Germany by 2030 as well as expanding its workforce through hiring 200 new staff to work on developing solar PV and wind in the country
November 25, 2021
Germany’s new three-way coalition government of the SDP, Green and FDP parties have set guidelines for future energy policy in the country which include an expansion of planned renewable capacity and an accelerated phase out of coal power
November 22, 2021
German energy company RWE is selling solar EPC and O&M service provider Belectric to Czech utility CEZ, Germany's federal competition authority has revealed.
November 15, 2021
German energy major RWE has entered into a transaction related to the divestment of parts of solar EPC service provider Belectric.
October 7, 2021
German energy major RWE has established a joint venture (JV) with Greek utility PPC that will develop utility-scale solar projects in Greece with a total capacity of up to 2GW.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal
Solar Media Events
April 25, 2022
Berlin, Germany