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Germany's E.ON to invest €27 billion for energy transition up to 2026

- Decarbonization of Europe's economies places energy industry at threshold of key decade of growth, company CEO says

home > Renewable, Finance, Invesments, Europe 23.11.2021 12:46 Ebru Şengül

Germany's E.ON to invest €27 billion for energy transition up to 2026

German energy group E.ON will invest roughly €27 billion through 2026 for the company's energy transition, it announced on Tuesday.

Out of the total amount, around €22 billion will go towards expanding its energy networks and the remaining €5 billion towards accelerating the growth of its customer solutions business.

The company intends to increase adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in its core business by about 4% annually to around €7.8 billion in 2026.

It also aims to increase its dividend by up to 5% annually through the 2026 financial year and its earnings per share by 8 to 10% annually.

For the 2021 financial year, the company plans to propose a dividend of €0.49 per share.

The company’s five-year investment plan was announced a week after the release of a plan from another German energy company, RWE, which said it will invest around €50 billion in its core business by 2030.

With its new strategy 'Growing Green', RWE said it will spend an average of €5 billion gross each year for offshore and onshore wind, solar, batteries, flexible generation and hydrogen.

- E.ON to integrate 35 to 40 GW of additional renewables capacity

E.ON board member responsible for energy networks, Thomas Konig, said over the next five years alone, E.ON's networks will integrate 35 to 40 gigawatts of additional renewables capacity.

This plan comes amid the decarbonization of Europe's economies, and according to E.ON CEO Leonhard Birnbaum, places the energy industry at the threshold of a key decade of growth.

'Having roughly 50 million customers in Europe and the continent's biggest distribution network - which is the backbone of this transition - positions E.ON superbly to seize this opportunity,' Birnbaum said.

'Each of those new facilities takes Europe another step toward its Paris Agreement targets. In addition, we will see millions of heat pumps as well as batteries and eMobility,' Konig said.

By Ebru Sengul Cevrioglu

Anadolu Agency

energy@aa.com.tr


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12.04.2022 Renewable , Wind , Solar , Turkey , Europe

Izmir Development Agency calls for international cooperation at WindEurope

- Izmir, with 4.4M population, has become 'production hub' of wind energy, hosting 16 ports, 16 industrial zones, 5 techno parks and 10 universities
08.04.2022 Renewable , Wind , Turkey , Europe

Solar and wind prove cheapest sources to cut global emissions

- Unit costs of solar and wind energy fall by 85% and 55%, respectively between 2010 and 2019
06.04.2022 Wind , Solar

Limiting global warming to 1.5°C beyond reach without deep emissions reductions

- Options in all sectors available to at least halve emissions by 2030 but major energy sector transitions are required, IPCC scientists say
05.04.2022 Renewable , International Organization , Europe , Americas

Turkiye's daily wind power generation hits all time high on Saturday

- More than 25% of total electricity was generated from wind energy sources on Saturday
04.04.2022 Wind , Renewable

Turkiye's daily wind power generation hits record high

- More than 22% of total electricity was generated from wind energy sources on Friday
03.04.2022 Renewable , Wind , Turkey

Renewable energy top priority for economic development of Turkish society

- 79% of the participants see renewable energy as a good opportunity for economic development, research shows
04.04.2022 Renewable , Turkey

Wind, solar hit record 10% of global electricity generation in 2021

- Wind and solar generation grow by 17% last year with solar becoming fastest rising source of electricity generation for 17th year running, report shows
30.03.2022 Wind , Solar

bp to invest £1 billion in UK EV charging infrastructure

- Investment to allow bp to triple number of public charging points in its UK network
25.03.2022 Renewable , Invesments , Europe

Turkish solar plant on Galatasaray sports complex roof receives Guinness World Records title

- Solar plant installed on roof of Ali Sami Yen Sports Complex goes down in history as world's "most powerful solar power output from a sports stadium"
25.03.2022 Renewable , Solar , Invesments , Turkey

bp and Marubeni partner to pursue offshore wind in Japan

- bp to establish local offshore wind development team in Tokyo
23.03.2022 Electricity , Wind , Asia

Turkiye's coal mines could host solar energy to power almost 7M homes, study shows

- Potential solar capacity in open-cast coal mines in country corresponds to almost 170% rise from current installed capacity
24.03.2022 Finance , Coal , Solar

Eni, Air Liquide to team up to decarbonize hard-to-abate industries in Europe

- Air Liquide to develop competitive carbon abatement solutions and Eni to identify most suitable permanent carbon storage locations in Med. Sea
23.03.2022 Renewable , Energy Projects , Europe

Turkiye, EU could form joint clean transition strategy to reduce import gas reliance

- Both sides could establish task force to evaluate common actions for development
15.03.2022 Natural Gas , Renewable , Turkey

Russia-Ukraine crisis exposes need to expedite energy transition in EU

- Oil and gas exports become more critical for Russian economy since freezing of approximately half of central bank's reserves
04.03.2022 Natural Gas , Renewable

India’s quest for solar energy may have adverse social, ecological effects

- Experts urge caution as India aims to achieve installed solar capacity target of 270 gigawatts by 2030
28.02.2022 Solar , Asia

Europe's annual increase in wind energy not enough for 2030 targets

- Europe's wind farms generated 437 terawatt-hours of electricity in 2021, according to WindEurope statistics
25.02.2022 Wind , Renewable

Vestas announces €15.6 billion in revenue in 2021

- Vestas achieves record-high revenue despite supply chain disruptions and severe cost inflation, company says
13.02.2022 Finance , Wind , General

Ireland sets new record high in wind energy generation

- Wind generation hits 4,584 megawatts on Saturday, surpassing the previous high in February last year of 4,489 megawatts
11.02.2022 Finance , Wind , Renewable

Turkiye’s Enerjisa Enerji to supply green power to Sabancı, Teknosa

- Move is part of Enerjisa’s green initiative “Energy of My Business” to provide enough annual power for 8,475 households
04.02.2022 Electricity , Renewable , Turkey

EU proposes regulation to define nuclear energy and gas as 'green investment'

- EC introduces legislative proposal that includes new rules on classification of energy investments as climate-friendly in EU
03.02.2022 Natural Gas , Renewable , Nuclear , Europe

Turkiye's first floating offshore wind energy modelling study to help unearth new potential

- Study conducted by Izmir Institute of Technology aims to produce unique design for use in Turkiye's seas in coming years
02.02.2022 Renewable , Wind , Projects , Turkey

Swedish Vattenfall, Fred. Olsen Seawind win rights for floating offshore wind in Scotland

- Project, with expected capacity of up to 798 megawatts, will provide enough power for over 700,000 UK homes
19.01.2022 Finance , Wind , Europe

Equinor, bp sign deal for offshore wind projects in New York

-Once completed, project will enable to power about 2 million New York homes and generate more than $1 billion in economic activity for city
17.01.2022 Wind , Europe

Turkiye's climate decisions this year to pave road for 2053 net zero target

- First and most effective step to set strong roadmap is through declaration of coal phase-out strategy, experts concur
13.01.2022 Renewable , Turkey

Turkiye opens Europe's 1st carbon-negative integrated biorefinery facility

- Facility to produce different value-added products for energy, health, food, agriculture and animal husbandry sectors
08.01.2022 Renewable , Turkey

Turkey sees largest wind capacity increase in history in 2021

- Wind power additions account for half of overall electricity capacity increases last year
05.01.2022 Finance , Wind , Renewable

Highlights of global energy market in 2021

- Record natural gas prices, fluctuating oil prices and climate negotiations are hot topics in 2021
24.12.2021 Natural Gas , Oil , Renewable , International Organization , Europe , Asia , Americas

Highlights of Turkish energy market in 2021

- New Black Sea gas discovery, booming renewable energy market and renewed climate efforts were some of many hot topics in 2021
24.12.2021 Electricity , Natural Gas , Oil , Renewable , Finance , Nuclear , Coal , Regulation , Energy Diplomacy , Turkey

World Bank's $300 million loan to boost Turkey's geothermal energy

- New loans will finance over 380 megawatts of new geothermal capacity, and mobilize about $555 million of private capital
22.12.2021 Finance , Geothermal/Biomass , Turkey

Israel to halt gas research, dubbing 2022 'year of renewable energy'

- Israel will not embark on fourth stage of licensing for gas exploration, Israeli minister says
17.12.2021 Natural Gas , Renewable , Middle East-Africa

Turkey aims to boost domestic production of wind turbine parts

- Country also exports wind energy equipment to 45 countries in six continents
16.12.2021 Wind , Turkey

Turkey on track for planned wind capacity additions in 2022

- Despite global pandemic, Turkey manages to continue investments for wind installations in last two years, Turkish Wind Energy Assoc. head confirms
16.12.2021 Finance , Wind , Renewable

Turkey's daily wind power generation hits record high

- More than 20% of total electricity was generated from wind energy sources on Friday
13.12.2021 Finance , Wind , Renewable

Rising energy prices unsustainable: EU chief

- Ursula von der Leyen stresses Europe's future energy security "clearly depends on clean home-grown energy"
11.12.2021 Natural Gas , Renewable , Energy Diplomacy , Europe

Experts launch 1st independent hydrogen coalition to guide decision-makers

- Coalition recommends government support for zero emissions hydrogen or green hydrogen only
11.12.2021 Renewable , International Organization

UAE seen as candidate to become EU’s hydrogen supplier

-With net zero target by 2050, UAE has also significant potential for solar power
07.12.2021 Renewable , Hydro , Europe , Middle East-Africa

Turkish renewables sector attracts $2.5B in financing this year led by solar

- Clean financing in 2021 is expected to be around 20% higher than annual average between 2002 and 2020
07.12.2021 Renewable , Invesments

Turkey's daily power consumption down 0.26% on Dec. 3

- Electricity exports amount to 8,751 megawatt-hours and imports total 12,152 megawatt-hours
05.12.2021 Electricity , Wind , Turkey , General

Turkey's renewable power capacity to grow by 53% by 2026

- Growth rate of renewables makes Turkey 5th biggest in Europe, 12th biggest worldwide, senior analyst at Int. Energy Agency says
04.12.2021 Renewable , Turkey

IEA expects all-time record in renewable installations globally in 2021

- Renewable electricity growth accelerates faster than ever but further deployment is needed across all key sectors, report says
02.12.2021 Renewable , Wind , Solar , Invesments

$812 million finance deal signed for Turkey's largest solar power plant

- Currently, 550 megawatts of installed capacity is completed for Karapınar Solar Power Plant Project
01.12.2021 Solar , Projects , Invesments , Energy Projects , Turkey

Enerjisa Enerji, EBRD sign $110M green finance loan agreement

- Loan for "inclusive and green uses" will contribute to company goal of providing sustainable and high-quality energy to 21 million
02.12.2021 Electricity , Renewable , Finance , International Organization , Turkey

Italian energy firm Enel aims to accelerate its net zero goal by 10 years

- Move brings company’s full decarbonization target down to 2040
26.11.2021 Renewable , World , Europe

Germany's E.ON to invest €27 billion for energy transition up to 2026

- Decarbonization of Europe's economies places energy industry at threshold of key decade of growth, company CEO says
24.11.2021 Renewable , Finance , Invesments , Europe

TotalEnergies partners with Australian firms to develop natural carbon sinks

- Company’s projects constitute real-world illustrations of its climate ambition, says company official
19.11.2021 Renewable , World , Europe

Global energy efficiency progress well short of level to meet climate goals

- Annual rate of improvement in global energy intensity is below 4% needed between 2020 and 2030 for net zero pathway, IEA says
18.11.2021 Electricity , Renewable

Fossil fuel-dependent M. Eastern economies in search of clean transition roadmap

- Fundamental changes to economic model of resource-rich countries look unavoidable, IEA chief says, urging for clean energy transition
17.11.2021 Natural Gas , Oil , Renewable , Middle East-Africa

Turkey's daily wind power generation hits record high

- More than 20% of total electricity was generated from wind energy sources on Wednesday
12.11.2021 Wind , Turkey , General

Turkey’s energy minister says new gas find in Black Sea imminent

- Country announces total gas discovery of 540 billion cubic meters in Black Sea over course of one year
10.11.2021 Renewable , Turkey

EBRD commits to around €1.5B for Turkey this year with half for green financing

- Bank to provide first new landmark, externally verified green loan of €150 million for Turkish manufacturing sector
09.11.2021 Renewable , Finance , International Organization , Turkey

Countries failing to fulfil climate commitments to be 'shamed' in 2023

- Actions will be tracked by International Energy Agency until UN climate summit in 2023
08.11.2021 Electricity , Renewable , International Relations , International Organization , Turkey , Europe , Asia

President Erdogan inaugurates huge Ilisu Dam in southeastern Turkey

- Dam on Tigris River has total water storage volume of 11 billion cubic meters
07.11.2021 Hydro , Turkey

Glasgow mosque goes green with solar energy panels

- Glasgow Central Mosque installs panels as part of project by Greenpeace, Islamic Relief
06.11.2021 Solar , World
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