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

The Coal Ash Rule: How the EPA's Recent Ruling Will Affect the Way Plants Manage CCRs

Learn how the Environmental Protection Agency's recent ruling will affect the way power plants manage coal combustion residuals.

Mississippi Power must refund $281mn to customers for Kemper IGCC project

Follow Power Engineering on Twitter
Latest News
Reid Gardner coal-fired power plant settle lawsuit

Vegas-area coal plant owners to pay $4.3M to settle lawsuit

Operators of a coal-fired power plant outside Las Vegas are agreeing to pay $4.3 million to s...
07/30 Weekly Coal Production Report

07/30 Weekly Coal Production Report

The U.S. Energy Information Administration has released its U.S. coal production report for t...
TECO installs solar power project at Tampa International Airport

TECO installs solar power array at Tampa International Airport

Tampa Electric Co (TECO) is now installing 7,000 solar panels on top of Tampa International A...
Iran to ban Canadian, US inspectors to nuclear facilities Associated Press

Iran says will ban US experts from UN nuclear inspections

Iran says it will not allow American or Canadian inspectors working for the U.N. nuclear watc...
ERCOT urges conservation wind energy power demand

Texas grid operator urges conservation on hot days

The grid operator for Texas has urged conservation during peak electric demand hours of the h...
Siemens net profit flat

Siemens net profit flat after restructuring charges

Germany's Siemens AG says net profit fell slightly in the most recent quarter as better earni...
Doel nuclear power plant Tihange Engie license extension

Engie agrees on nuclear license extension projects in Belgium

Engie, formerly known as GDF Suez, reached an agreement with the government of Belgium for li...

FuelCell, E.ON units to offer decentralized CHP solutions

FuelCell Energy (Nasdaq: FCEL) announced an agreement with E.ON Connecting Energies GmbH to o...

Power Engineering Current Issue

02/01/2015
Volume 119, Issue 2
1502PE-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 | 2014 | 2015

Buyers Guide Categories

Power Industry Wire News

City of Saskatoon to Roll Out Elster AMI Solution

City of Saskatoon to Roll Out Elster AMI Solution

Flo Trend and ETEC Reach Manufacturing Representation Partnership-Agreement

Flo Trend and ETEC Reach Manufacturing Representation Partnership-Agreement

eHealth Exchange Reaches 100 Members and Expects to Connect 40% of U.S. Hospitals by Year End; Also Increases Participation from Small and Mid-Sized Medical Groups

eHealth Exchange Reaches 100 Members and Expects to Connect 40% of U.S. Hospitals by Ye...

Collins Celebrates Milestone as Kane Hardwood Division Completes 20 Years of FSC Forest Management Certification

Collins Celebrates Milestone as Kane Hardwood Division Completes 20 Years of FSC Forest...

Eos Petro Engages Deloitte Corporate Finance, LLC

Eos Petro Engages Deloitte Corporate Finance, LLC

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 >>