E.ON targets up to $4.5 billion in proceeds from portfolio adjustments

FILE PHOTO: E.ON headquarters in Essen
FILE PHOTO: E.ON headquarters in Essen, Germany, March 15, 2017. REUTERS/Thilo Schmuelgen/File Photo

November 23, 2021

FRANKFURT (Reuters) – E.ON, Europe’s largest operator of energy networks, targets 2 to 4 billion euros ($2.3-$4.5 billion) in proceeds from asset sales as well as partnerships by 2026, it said on Tuesday, ahead of its capital markets day.

Outlining its strategy for the 2022-2025 period, which also includes 27 billion euros in investments in networks and retail energy, E.ON also said it would target annual savings of 500 million euros through 2026.

($1 = 0.8896 euros)

(Reporting by Christoph Steitz; Editing by Riham Alkousaa)