E.ON announces €18.6bn investment plan

21 December 2005 - E.ON plans to spend €18.6bn ($22bn) over the next two years securing supply through investing in new and existing power stations as well as improving its network of grids.

E.ON CEO, Wulf Bernotat, said: "In the next three years we will invest above all in highly efficient and environmentally friendly power stations, in state of the art power and gas grids and in gas production."

Almost 90 per cent of the total will be capital expenditure on property, plant and equipment and will serve to modernize or build power stations and grids.

Approximately €1.2bn will be spent on renewable energy while around €2.3bn has been earmarked for financial investments, especially in eastern Europe and in the gas production sector.

In Germany, the company plans to construct a new 1100 MW coal fired power station at Datteln and two combined cycle power plant units at Irsching in Bavaria. E.ON will also build a gas fired power station at Livorno Ferraris in Italy as well as a 1200 MW gas fired power station and a 450 MW coal fired power plant in the UK. It will also invest in a new cogeneration plant in Sweden along with several new wind energy farms.

Wind energy will receive the greatest amount of the investment set aside for renewables. E.ON will expand its transmission grids in Germany to connect new wind energy capacity and it has allocated €300m for investments in wind energy companies.

The majority of the funds it plans to invest in the US will be spent on introducing new environmental technologies at its existing plants as well as the upgrading of power and gas grids. Germany's largest utility will also construct a 750 MW coal fired power plant in the mid west region.

Sponsored by FLSmidth

Related Articles

EPA releases coal ash rule

The U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy announced the agency will now consider coal ash on the same level as household waste as opposed to hazardous waste. Household garbage and coal ash are both listed in the solid waste category, a stretch from the hazardous waste classification.

Fuel Tech receives air pollution control contracts worth $3.6Mn

Fuel Tech Inc. has received multiple air pollution control (APC) contracts, worth approximately $3.6 million, from customers in China, Europe and the U.S.

Follow Power Engineering on Twitter
Latest News

PNM files ownership plan, coal supply deal with regulators

New Mexico's largest electric provider says it's on track to meeting a deadline for submittin...

Oklahoma attorney general challenges EPA's clean-air plan

A plan by the U.S. Environmental Protection Agency to reduce emissions from coal-fired power ...

Wave Energy Week will mix marine energy developers with traditional hydropower

Oregon Gov. Kate Brown, Democrat, has proclaimed “July 13-17, 2015 to be Oregon Wave Week in ...

Public Service Company of Oklahoma seeks rate increase

Public Service Company of Oklahoma is asking for a 13.6 percent rate increase it says is need...

GAO looks at reliability impacts of changing power generation mix

The Government Accountability Office (GAO) on June 29 released a study provided a month befor...

On the day after MATS decision, Bernstein sees only a limited reprieve for coal units

In light of the U.S. Supreme Court ruling against the EPA's Mercury and Air Toxics Standards ...

Pence says Indiana will not comply with coal plant regulations

Indiana will not comply with President Barack Obama's plan to battle climate change by requir...

Westermost Rough offshore wind park enters operations

The 210-MW offshore wind power plant, Westermost Rough, has entered operations. The project w...

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Categories

Power Industry Wire News

NW Natural Announces Dividend and Schedules Conference Call to Review Results for the Three and Six Months Ended June 30, 2015

NW Natural Announces Dividend and Schedules Conference Call to Review Results for the T...

Vantage Drilling Responds to News Reports Regarding Petrobras

Vantage Drilling Responds to News Reports Regarding Petrobras

National Grid Drives Innovation Through REV Demonstration Projects

National Grid Drives Innovation Through REV Demonstration Projects

Cardinal Resources' $28.8 Million Cameroon Red Bird Contract Advances; Company Expects Financing Completed, Implementation, in Q3-15

Cardinal Resources' $28.8 Million Cameroon Red Bird Contract Advances; Company Expects ...

Letter From CGE Energy (McKenzie Bay Intl.) President Bryan Zaplitny

Letter From CGE Energy (McKenzie Bay Intl.) President Bryan Zaplitny

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>