Southern and Western Europe
Southern and Western Europe is characterized by robust economic growth, stability, and increasing energy consumption. Our existing operations in the region include power and gas wholesaling and gas distribution and supply in Italy. Under an agreement reached with Enel and Acciona in April 2007, we’ll add to this position by acquiring a substantial portfolio of assets, mainly in Spain, France, and Italy.
We’ll acquire Viesgo, a Spanish electric utility and other generating capacities from Endesa with 3,000 megawatts of installed capacity and 580,000 customer accounts. Ongoing construction projects will add about 2,000 megawatts of capacity. In addition, in August 2007 we acquired ENERGI E2 Renovables Ibéricas, which has attractive positions in Spain and Portugal in the fast-growing renewables market. The company, which is now called E.ON Renovables Iberia, has a generation portfolio consisting primarily of wind power and has numerous wind-farm projects under construction or in various stages of planning. By 2010, we expect to have more than 7,000 megawatts of generating capacity in Spain, which will give us a more than 10-percent share of the market and make us the country’s fourth-largest power producer.
We’ll also become Italy’s fourth-largest power producer through the acquisition of about 7,200 megawatts of gas-fired, coal-fired, hydroelectric, and wind-power assets from Endesa.
In France, the acquisition of Endesa France/SNET, which has approximately 2,500 megawatts of generating capacity, will make us that country’s third-largest power producer.
We’ll acquire Viesgo, a Spanish electric utility and other generating capacities from Endesa with 3,000 megawatts of installed capacity and 580,000 customer accounts. Ongoing construction projects will add about 2,000 megawatts of capacity. In addition, in August 2007 we acquired ENERGI E2 Renovables Ibéricas, which has attractive positions in Spain and Portugal in the fast-growing renewables market. The company, which is now called E.ON Renovables Iberia, has a generation portfolio consisting primarily of wind power and has numerous wind-farm projects under construction or in various stages of planning. By 2010, we expect to have more than 7,000 megawatts of generating capacity in Spain, which will give us a more than 10-percent share of the market and make us the country’s fourth-largest power producer.
We’ll also become Italy’s fourth-largest power producer through the acquisition of about 7,200 megawatts of gas-fired, coal-fired, hydroelectric, and wind-power assets from Endesa.
In France, the acquisition of Endesa France/SNET, which has approximately 2,500 megawatts of generating capacity, will make us that country’s third-largest power producer.