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Innogy to push windfarms, electric car charging in U.S.: paper

Published 10/09/2016, 01:21 AM
Updated 10/09/2016, 01:30 AM
© Reuters. Peter Terium, CEO of RWE and Carsten Kengeter, CEO of Deutsche Boerse pose at the stock exchange in Frankfurt

FRANKFURT (Reuters) - Innogy , Germany's largest energy group, is looking at the United States market to expand its renewable energy and electric car charging business, its chief executive told German weekly Welt am Sonntag.

"We want to invest around 6.5 billion euros between 2016 and 2018," Chief Executive Peter Terium told the paper, adding that investments will include grid networks and infrastructure but also wind farms in Germany, Poland, the Netherlands and electric car charging stations in the United States.

Innogy, which was spun off from German energy utility RWE with a stock market listing this week, sees an opportunity to push electric car charging stations thanks to regulatory backing.

"Three weeks ago we persuaded Californian authorities to accept the German norms and standards for electric car charging stations," Terium said, adding that this may provide an opportunity to partner with German carmakers to help them expand electric car sales in the United States.

In May, Reuters reported that RWE was on the lookout for partnerships with auto makers in the area of electric cars.

© Reuters. Peter Terium, CEO of RWE and Carsten Kengeter, CEO of Deutsche Boerse pose at the stock exchange in Frankfurt

Innogy has already installed more than 3,100 electric car charging stations in Germany.

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