April 2, 2001The Board of Innogy Holdings plc today approved the acquisition of 94.75% of the issued share capital of Yorkshire Power Group Limited and increased the limit on borrowings of the Innogy Group.
The board also announced that the company has received clearance for the acquisition from the regulatory authorities.
The board also announced its intention to proceed with a proposed IPO for the Regenesys business.
Regenesys is a patented utility scale electricity storage technology, developed by Innogy, which could have the potential to change the way power systems are managed. The technology operates like an electricity warehouse where electricity can be stored after it is generated and released to meet peak power demands.