German-base utility RWE will spin off renewables operations to a new subsidiary which will be listed on the stock exchange.<\/p>\n
RWE said that the move will help the company tap capital markets for growth. The new subsidiary will be listed on the stock market in late 2016.<\/p>\n
RWE intends to offer about 10% of the new company’s share capital to the public as part of the planned initial share sale. Additional stakes may be disposed at a later time, the company said.<\/p>\n
\u201cThe proceeds will be used to finance further growth in markets with good future prospects,\u201d the company said. \u201cThere will be no change to the asset base available to back liabilities. In relation to the nuclear phase out, the RWE Group will increase its financial flexibility to fund its provisions. RWE AG will remain the new company’s majority shareholder over the long term and consolidate it fully. The parent company will focus on conventional power generation and energy trading.<\/p>\n
The Group’s restructuring is our response to the transformation of the European energy landscape,” saiod Peter Terium, CEO of RWE AG. “We are creating two viable companies under one roof. The new subsidiary will have its own access to the capital market and improve our growth prospects. At the same time, we are convinced that conventional power generation will remain an irreplaceable partner for renewable energy for decades to come. Our conventional power stations are the backup for renewables.”<\/p>\n
The new subsidiary will have a portfolio of more than 3.5 gigawatts of renewables capacity with a strong focus on wind power.<\/p>\n
The new company will probably be headquartered in Essen like RWE AG, which will focus on conventional power generation and trading.<\/p>\n","protected":false},"excerpt":{"rendered":"
German-base utility RWE will spin off renewables operations to a new subsidiary which will be listed on the stock exchange.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[683,687,680],"tags":[],"class_list":["post-5442","post","type-post","status-publish","format-standard","hentry","category-deals-finance","category-europemiddle-eastafrica","category-wind"],"yoast_head":"\n