E.ON to invest €27B in energy transition by 2026

Tuesday, 23. November 2021 07:22

E.ON SE announced on Tuesday it plans to invest €27 billion in energy transition over the next five years.

"E.ON will now launch a comprehensive growth and investment offensive to establish a zero-carbon energy world," CEO Leonhard Birnbaum stated.

The company noted it will put €22 billion towards the expansion of energy networks and €5 billion towards the expansion of the customer solutions business. E.ON added it plans to have 5,000 new charging points in Europe by 2026. As a result of the new growth strategy, the energy giant sees its EBITDA rising about 4% per year and reaching €7.8 billion in 2026 and its dividend growing up to 5% per year in the next five years.

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Author:
Baha Breaking News (BBN) / NP