Innogy to push windfarms, electric car charging in U.S.: paper
- Consumer staples stocks help Wall St. pare some losses
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Verizon Communications (VZ) May Acquire Big Cable Company - NYP (CHTR) (CMCSA)
- Citron Research Negative on Lannett (LCI); Sees Shares at 'Zero' Over Long Term
- Morgan Stanley (MS) Tops Q4 EPS by 17c
Peter Terium, chief executive of German power supplier RWE and Carsten Kengeter (L), CEO of Deutsche Boerse pose with a bull, symbol of successful burse trading, before the first trading day of shares of RWE's new ecological daughter Innogy at the stock e
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
FRANKFURT (Reuters) - Innogy
"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.
Innogy has already installed more than 3,100 electric car charging stations in Germany.
(Reporting by Edward Taylor; editing by Susan Thomas)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMW, UK car industry say Britain needs to keep tariff-free EU trade
- Fraudsters use sham UK charity appeals to steal money via emails, social media
- Head of Austrian far right to visit Washington at time of Trump inauguration