RWE acquires German heating business from ExxonMobil

RWE Energy has signed an agreement with Hamburg-based ExxonMobil Central Europe Holding GmbH to acquire ExxonMobil's local and district heating business in Germany.

This deal includes a 100% stake in Favorit Unternehmens-Verwaltungs-GmbH (Favorit), which has up until now been held by ESSO Germany GmbH and which operates ExxonMobil's local and district heating business in Germany.

Favorit generated 1 TWh of heat during 2007 for some 70,000 customers in the states of Hamburg, North Rhine-Westphalia, Hesse and Baden-Wuerttemberg.

Regulatory approval is still required.

'The acquisition of the ExxonMobil heating business will substantially strengthen RWE Energy's activities in the local and district heating sector', explained Heinz-Werner Ufer, CEO of RWE Energy, adding: 'This represents a further step in RWE's plans to expand its decentralised, efficient energy generation and energy services.'



What to Read Next

ComAp acquires engine controls division of UK firm

Power generation control equipment manufacturer ComAp is acquiring the engine control division of...

Mott MacDonald in nuclear fusion collaboration

UK-based First Light Fusion and international engineering group Mott MacDonald are collaborating ...

Carbon Trust launches new stage of UK offshore wind project

The UK’s Carbon Trust has announced the launch of Stage 2 of the Offshore Renewable Joint Industr...

Power Engineering International

FacebookTwitterLinkedInGoogle+RSS Feed