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Doha, June 23 (QNA) – Qatar Investment Authority (QIA) announced it will invest EUR 432 million as a cornerstone investor in RWE’s c. EUR 4 billion equity capital raise. RWE is Germany’s largest power generation company and one of the leading renewable and flexible energy companies globally. With this transaction, QIA will increase its stake in RWE from 9.27% to 9.87%.
According to a QIA press release, RWE will use the proceeds from the equity capital raise to acquire a 35% indirect stake in Amprion, bringing RWE’s total stake in Amprion to 55%. Amprion is the second largest electricity transmission company in Germany, operating an 11,000 km long extra-high-voltage network that transports electricity from the North Sea to the Alps and serves approximately 29 million people across key industrial regions.
Amprion is executing a sizeable grid expansion plan aimed at facilitating Germany’s electrification and integrating decentralized power generation. (QNA)
