A hot air balloon with the logo of German energy giant E.ON flies at dawn in Ronda, southern Spain, July 21, 2018. REUTERS
FRANKFURT, Feb 25 (Reuters) – E.ON, Europe’s largest operator of energy networks, on Wednesday said it is raising investments to 48 billion euros ($57 billion) over the next five years, in a push to expand grids and prepare them for a build-out of data centres across the continent.
“The energy system is becoming larger, more decentralized, and more complex, and we are ensuring that it remains secure, affordable, and resilient for our customers,” CEO Leonhard Birnbaum said.
The new investment plan, running from 2026 to 2030, compares with a 43 billion euro programme over the 2024 to 2028 period, and highlights E.ON’s efforts to pump more money into regulated networks to boost its asset base and profits.
Reporting by Christoph Steitz, Editing by Linda Pasquini
