Innogy

Innogy SE is an energy company based in Essen, Germany. It is a subsidiary of the German energy company E.ON. The company was created on 1 April 2016, by splitting the renewable, network and retail businesses of RWE into a separate entity.[2][3] The new entity combined RWE subsidiaries RWE Innogy, RWE Deutschland, RWE Effizienz, RWE Vertrieb and RWE Energiedienstleistungen.[1]

This article is about the renewable energy subsidiary of E.ON. For the British company formerly named Innogy plc, see npower (United Kingdom).
Innogy SE
Societas Europaea (SE)
ISINDE000A2AADD2
IndustryElectricity
Founded1 April 2016 (2016-04-01)[1]
Headquarters
Essen
,
Germany
Key people
Uwe Tigges (CEO)
Revenue€36.98 billion (2018)
OwnerE.ON
Number of employees
42,904 (2018)
SubsidiarieseMobility
Essent
npower
Websitewww.innogy.com

On 7 October 2016, it was listed at the Frankfurt Stock Exchange.[2] They serve 23 million customers in Europe. In November 2017, it was announced that Innogy was looking to merge its energy retail subsidiary npower in the United Kingdom, with the equivalent division of rival SSE.[4]

It was planned that Innogy shareholders would own 34% of the demerged entity,[5] however, the deal fell through, and in November 2019, it was announced that npower would ultimately be wound down following the acquisition of Innogy by E.ON, costing over 4500 jobs, in a process expected to take around two years to complete.[6]

In March 2018, it was announced that E.ON will acquire Innogy, in a complex deal of assets swap with RWE.[7] The transfer of shares was completed in September 2019.[8]

eMobility

In December 2016, Innogy combined its electric vehicles related activities into a new subsidiary called eMobility.[9] It operates one of the largest charging points network in Europe, which includes 7,000 charging points in over twenty countries.[9][10] Since September 2008, it operates in cooperation with Daimler AG test project in Berlin called e Mobility Berlin.[11] It also cooperates with an Italian company called Be Charge.[10]

In October 2018, the subsidiary of the United States, innogy eMobility US, announced the acquisition of California based Recargo, an electric mobility software company.[12] Recargo produces the popular PlugShare platform that helps EV drivers find public charging stations.[13]

References
  1. "RWE renewables subsidiary launched". Windpower Monthly. 2016-04-01. Retrieved 2016-10-08.
  2. Chazan, Guy (2016-10-07). "Lacklustre market debut for Innogy". Financial Times. Retrieved 2016-10-08.
  3. "RWE renewables spinoff Innogy volatile in market debut". Deutsche Welle. 2016-10-07. Retrieved 2016-10-08.
  4. Vaughan, Adam (7 November 2017). "SSE and npower in talks to create giant UK energy supplier". The Guardian. Guardian Media Group. Retrieved 8 November 2017.
  5. Thomas, Nathalie (8 November 2017). "SSE and Npower agree to combine household supply businesses". Financial Times. The Nikkei. Retrieved 8 November 2017.
  6. "Npower's German owner axing up to 4,500 jobs and scrapping brand in major shake-up of Britain's energy market". 2019-11-29. Retrieved 2020-05-15.
  7. Massoudi, Arash; Buck, Tobias (2018-03-11). "Eon to acquire Innogy in €43bn deal with RWE". Financial Times. Retrieved 2018-03-11.
  8. "Eon closes deal for Innogy shares from RWE". ReNews. 19 September 2019. Retrieved 1 December 2019.
  9. Steitz, Christoph (2016-12-14). "RWE's Innogy sets up new electric vehicle business". Reuters. Retrieved 2018-03-11.
  10. Kaeckenhoff, Tom; Steitz, Christoph (2018-02-05). "Innogy to equip Deutsche Post's DHL with e-charging stations". Reuters. Retrieved 2018-03-11.
  11. "e-mobility Berlin project to provide 500 EV charging points". gizmag.com. 9 September 2008.
  12. innogy (2018-10-02). "innogy Acquires Recargo Inc". www.prnewswire.com. Retrieved 2018-10-06.
  13. "Innogy takes over EV software specialist Recargo - electrive.com". electrive.com. 2018-10-03. Retrieved 2018-10-06.
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