Home » Germany’s Rheinland Group has offered more than 200 billion yuan to acquire Con Edison Green Energy | Natural Gas | Electricity | South Korea

Germany’s Rheinland Group has offered more than 200 billion yuan to acquire Con Edison Green Energy | Natural Gas | Electricity | South Korea

by archyde

[The Epoch Times, October 2, 2022](Reported by The Epoch Times reporter Hou Junlin)GermanyThe largest power company RWE AG announced on the 1st that it agreed to acquire Con Edison (ED) for US$6.8 billion (approximately NT$216.3 billion).Green energybusiness subsidiary, will become the world’s largest renewable energy company.

Nord Stream from Russia to Europe in the near futurenatural gasSubmarine pipelines, “Beixi No. 1” and “Beixi No. 2” both had gas leakage accidents. After investigation, many governments accused it of being “man-made sabotage”, which caused the European energy crisis to heat up again.GermanyHave to make moves to deal with the issue of energy shortage, but also increase investmentGreen energyindustry.

Reuters reported that Deutsche Power andnatural gasThe Rheinland Group announced on the 1st that it will acquire the green energy business subsidiary of Con Edison for US$6.8 billion. Rheinland Chief Executive Markus Krebber pointed out that this equity measure, in addition to considering the acquisition of Con Edison’s green energy business, also hopes to be the basis for additional green growth financing in the coming years.

The deal, the largest since the Rheinland Group announced the spinoff of its former unit Innogy in 2018, will immediately add an additional $600 million in annual core earnings; Con Edison said it is currently canceling this year’s offering of up to $850 million in new shares , and said the deal would allow it to focus more on core utilities, as well as green energy transition projects in New York.

According to the report, due to this transaction, Rheinland Group has nearly doubled its green energy investment portfolio in the United States to more than 7 million barrels, and also increased its regional project pipeline by 7 million barrels to more than 24 million barrels. The transaction is expected to be completed in 2023. Completion in the first half of the year will make Rheinland Group the fourth largest green energy company in the US market.

However, according to comprehensive media reports, as the possibility of Russia’s cessation of natural gas supply continues to increase, resulting in high global natural gas and coal prices,South KoreaThe government decided to raise electricity and natural gas prices in the fourth quarter.

The price of natural gas for household and commercial use will increase by 2.7 won (about NT$0.06) per megajoule, and the price of natural gas for household and commercial use will increase by 15.9% and 16.4% respectively.South KoreaThe Electric Power Company (KEPCO) announced that starting from October 1,electricity billThe rate will increase by 7.4 won per kWh (approximately NT$0.16)

South Korean Finance Minister Chu Kyung-ho pointed out that considering the possibility of increased energy demand in winter and the possibility of Russia restricting natural gas supply, the energy crisis is expected to last for a period of time. about NT$119) gas usage fee.

Responsible editor: Yuzhen

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.