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RWE acquires E.ON's renewable business in US

RWE AG completed the acquisition of E.ON SE's renewable energy business as part of a broader €43 billion asset exchange deal.

E.ON, another German utility, operates in the U.S. through subsidiary E.ON Climate & Renewables North America LLC. As part of the transaction, RWE has become the owner of E.ON Climate & Renewables North America.

Under this component of the deal, E.ON first acquired interests in certain of innogy SE's renewable assets in the U.S. Then, E.ON sold those assets to RWE. In the next part of the transaction, which has not yet closed, RWE will reacquire a 100% interest in innogy's renewable energy business, according to an Oct. 7 filing with the Federal Energy Regulatory Commission.

Innogy is RWE's renewable energy generation arm. (FERC docket EC19-87)