Düsseldorf, Frankfurt Germany’s leading energy group Eon will invest primarily in the electricity and gas business in the future. CEO Leonhard Birnbaum recently announced that by 2026 the record sum of 27 billion euros should flow into his core business: the network business and sales. Peripheral activities with a volume of two to four billion euros are to be sold.
The district heating business is high on the sales list, as the Handelsblatt learned from several people familiar with the matter. The company itself did not want to comment. Such companies are popular with financial investors.
In November, the Infrastructure Investment Fund (IIF), which belongs to JP Morgan, bought the Magdeburg energy service provider Getec, which is also active in the district heating sector, for a valuation of over four billion euros.
Eon’s activities include small thermal power stations and pipes that transport district heating to customers. In total, the network is 5000 kilometers long and connects 4100 generating plants in a total of 14 countries.
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