The logo of the German power supplier RWE is pictured at the RWE headquarters in Essen, Germany, November 15, 2021. REUTERS
FRANKFURT, Nov 13 (Reuters) – A 55 billion euro ($58.45 billion) investment programme by Germany’s biggest power producer RWE (RWEG.DE), up to 2030 will be kept in principle, but curbs in 2025 and 2026 mean the sum could be spent later, the firm’s CFO told reporters on Wednesday.
“We will invest 2 billion euros less in those two years. I don’t think we will add those (figures) in later years (up to 2030),” said CFO Michael Mueller after the company announced a 1.5 billion euro share buyback programme and posted better than expected nine-month earnings, which drove up shares.
“But the total 55 billion as a total programme is an investment in the transformation of our company and I would stick to that,” he added.
($1 = 0.9410 euros)
Reporting by Vera Eckert, editing by Rachel More
