German E.ON to invest $19.5 billion in power plants: Bernotat
Freiburg (Platts)--9Mar2006
Over the next three years, E.ON plans to invest about Eur16.3 billion
($19.5 billion) in the modernization of its power plants, building new ones,
and improving its electricity and gas networks, company chief Wulf Bernotat
said Thursday, adding this was nearly 90% of a total planned investment of
Eur18.6-bil.
Two new power plants at Irsching, and one in Datteln, both in Bavaria,
will cost Eur2.8-bil. About Eur1.2-bil is earmarked for investments in
renewable energy.
"In order to further enlarge our position in the Dutch generation market,
we plan to build a new, highly efficient coal-fired power plant in Rotterdam.
In addition, in Italy we're building a state-of-the-art,
environmentally-friendly power plant, thereby entering Italy's rapidly growing
electricity market," said Bernotat.
With a view to E.ON's bid for Spain's Endesa, Bernotat said he believed
the offer was "good for Spain, the Spanish energy market, Endesa, its
employees, and the integration of Europe's energy markets." He stressed Endesa
would continue to be a Spanish company and strong competitor in its home
market. "Moreover, being part of E.ON would strengthen Endesa's natural gas
business, which would be good news for Spanish consumers," said Bernotat.
Together, E.ON and Endesa would have more than 50 million customers,
which represents "a considerable weight" in talks with natural gas and other
energy producers, Bernotat said. Madrid would be the headquarters of a new
market unit responsible for southern Europe and Latin America, he added, while
Endesa's existing Barcelona facility would be E.ON's "competence center" for
electricity distribution.
Copyright © 2005 - Platts
Please visit:
www.platts.com
Their coverage of energy matters is extensive!!.
|