Deals
EnBW to Fund Green Power Switch With $3.4 Billion Asset Sale
- Company's 2020 profit to be based on renewables, grids
- CEO Mastiaux sees pressure on dividend by low power price
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Energie Baden-Wuerttemberg AG will sell assets to help transform Germany’s third-largest power supplier into a business centered on renewable energy and operating grids.
Karlsruhe-based EnBW has “a number of assets which are possible for divestment,” including stakes in utilities in Austria, Hungary and Germany, Chief Executive Officer Frank Mastiaux said in an interview. The utility has already sought to close six unprofitable power plants and sold a stake in an offshore wind farm in the past two years.