Innogy to invest €1.2 billion in PV, electric cars, fiber networks

The company wants to build a strong market position in the three sectors. Under the new “4P” strategy it announced this week, it is trying to ensure its long-term competitiveness.

In addition to organic growth initiatives, it will also pursue acquisitions to strengthen its portfolio. The company also wants to separate itself from business activities in which it does not lead the market by position or performance.

The RWE subsidiary recently bought German EPC contractor Belectric to expand its solar business. Its goal is to build a strong position in Europe, North America and selected emerging markets in the still very fragmented market for ground-mounted solar.

As for electric mobility, Innogy is pushing ahead with the expanded deployment of charging infrastructure. The company already operates around 5800 charging points in more than 20 countries. In addition, it has also developed an international charging standard for electric vehicles, as it sees an opportunity to become a leading electric mobility provider in Europe and the U.S.