Cologne-based RheinEnergie AG is set to acquire the contracting business of EnBW Energie Baden-Württemberg AG. This transaction, the details of which were laid out in a recently concluded agreement, marks a significant step in the expansion of RheinEnergie's energy services business. Through this acquisition, RheinEnergie positions itself as one of the three leading providers of complex energy services in Germany and also expands its capabilities in the implementation of industrial projects and in the public sector.
EnBW's portfolio to be acquired comprises approximately 200 facilities nationwide. Following the completion of the acquisition, RheinEnergie will operate around 800 facilities with an installed capacity of 1,100 megawatts. This agreement also includes the transfer of approximately 150 EnBW employees from the contracting division to RheinEnergie. The exact purchase price has not been disclosed by the parties involved.
Strategic Realignment at EnBW
For EnBW, the sale of its contracting business represents a sharpening of its strategic focus. The company plans investments of up to EUR 50 billion by 2030. These funds are primarily earmarked for the expansion of electricity and gas grids, the development of renewable energies, the construction of hydrogen-ready gas-fired power plants, and the electromobility sector. Peter Heydecker, Board Member for Sustainable Generation Infrastructure at EnBW, stated that the contracting business would be placed with a partner where it could successfully develop further, which provides a clear perspective for the projects as well as for customers and employees. He noted that the sale supports the implementation of EnBW's ambitious growth programme to continue playing a central role in the transformation of the energy system.
Andreas Feicht, CEO of RheinEnergie AG, emphasised the importance of energy services as a strategic growth area. He explained that the energy transition is increasingly taking place directly at the customer's premises, for example in industrial companies, districts, hospitals, municipalities, and the housing industry. By acquiring the EnBW portfolio, RheinEnergie is accelerating this development and becoming a leading provider of complex energy and heating solutions. Stephan Segbers, Chief Sales Officer of RheinEnergie AG, added that the strengths of both companies would complement each other excellently. RheinEnergie's existing core competencies in the housing industry and commercial sector would be specifically expanded to include large industrial projects and business with the public sector.
Continuity for Customers and Employees
For EnBW's existing contracting customers, business operations will continue without interruption. All contracts and terms remain valid and will be fully taken over by RheinEnergie. A long-term perspective has also been created for employees. RheinEnergie plans to retain the Stuttgart location and continue to employ the entire workforce. Redundancies for operational reasons have been ruled out until the end of 2029. The completion of the transaction is subject to the approval of the competent municipal supervisory authority and the antitrust authority. These approvals are expected by the beginning of 2027 at the latest. Until the transaction is completed, the business will continue to be managed by EnBW.
