RWE will acquire from Nordex SE a 2.7 GW portfolio of onshore wind and solar projects in France, Spain and Poland for a total consideration of around €400m. More than 1.9 GW of projects are located in France and 15% of the whole pipeline is close to final investment decisions (FID) or in advanced development stages; 230 MW have secured Contracts for Difference (CfDs) or similar feed-in tariffs. The transaction is subject to employee consultation and foreign investment approval in France. Once completed, the acquisition of the 2.7 GW portfolio will add to RWE's existing 22 GW development pipeline.
In July 2020, RWE completed an asset swap with E.ON and took over Innogy activities. In March 2018, E.ON and RWE reached an agreement and engaged in a complex asset swap. Under the agreement, E.ON acquired the 76.8 % stake in Innogy held by RWE. Meanwhile, RWE received a 16.67 % stake in E.ON (created through a capital increase) and most of E.ON's renewable energy business. E.ON will now focus on the distribution and retail supply of electricity and gas, whereas RWE will be primarily active in upstream electricity generation and wholesale markets.
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