Europe’s giant utility operator, German E.ON, said on Wednesday it was targeting a massive $46 billion in investment in five years for a grid overhaul and expansion to accommodate renewable energy projects as the company’s profit guidance soars.
Germany's largest energy supplier, E.ON, plans to invest €42 billion ($46 billion) in the energy transition across Europe starting this year until 2028, with a focus on expanding the electricity grid, the company reported on Wednesday. The previous five-year plan envisaged about €33 billion for the period between 2023 and 2027. The aim is to invest in a secure, competitive and sustainable energy system, the company said. Of the €42 billion, €34 billion is to be channelled into the grid business,
Tesla German Factory: The outage, which began on March 5 at the site in Gruenheide, was a result of an arson attack on a nearby power pylon for which activists from the far-left Vulkangruppe claimed responsibility. E.dis, a division of German energy network firm E.ON , said speedy weekend assembly work had enabled it to carry out a multi-hour high voltage test and get a green light from engineers.
Tesla German Plant: News about the early resumption of power supply comes after the works council chief of Tesla s German plant on Friday said that the factory would restart this week, without mentioning a specific date.