\n COLOGNE\/KARLSRUHE (dpa-AFX) – Cologne-based energy supplier Rheinenergie is taking over the energy services business of Baden-Wuerttemberg utility EnBW. The companies said so in a joint press release. Officially, neither side wants to comment on the purchase price. Market sources say Rheinenergie is expected to pay a low three-digit million euro amount. The Handelsblatt had previously reported the matter.<\/p>\n
The business unit includes consulting, planning, financing and construction, as well as the operation and maintenance of energy generation systems. These include heat pumps, photovoltaic systems, gas boilers and combined heat and power plants for business customers. According to the statement, around 200 systems and about 150 employees will move to Rheinenergie. The utility will expand its capacity to around 800 systems and 1,100 megawatts of installed capacity.<\/p>\n
Rheinenergie says the deal will make it one of Germany’s largest regional energy services providers. The municipally owned company supplies around 2.4 million people in and around Cologne with electricity, gas, water and heat. It also supplies electricity and natural gas nationwide.<\/p>\n
Profit at EnBW has fallen sharply<\/p>\n
Karlsruhe-based EnBW supplies around 5.5 million customers. In May, it emerged that the company’s profit in the first quarter fell by more than half compared with the year-earlier period.<\/p>\n
The company cited, among other things, lower revenue from renewable energy and a weaker result following the sale of a lignite-fired power plant. Operationally, however, the business proved robust, EnBW said at the time. Last year, EnBW exited the offshore wind projects ‘Morgan’ and ‘Mona’ in the UK, also because of sharply rising costs.\/cr\/DP\/jha<\/p>\n","protected":false},"excerpt":{"rendered":"COLOGNE\/KARLSRUHE (dpa-AFX) – Cologne-based energy supplier Rheinenergie is taking over the energy services business of Baden-Wuerttemberg utility EnBW.…\n","protected":false},"author":2,"featured_media":2628,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21242],"tags":[19828,21270,548],"class_list":["post-67051","post","type-post","status-publish","format-standard","has-post-thumbnail","category-enbw","tag-enbw","tag-enbw-energie-baden-wurttemberg","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/67051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=67051"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/67051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/2628"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=67051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=67051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=67051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}