German energy giant Innogy new strategy to invest 1.2 billion euros fiberglass products

German energy giant Innogy new strategy to invest 1.2 billion euros fiberglass products.

Innogy, Germany's largest energy group, announced that it would invest € 1.2 billion in electronic mobile, photovoltaic and fiberglass networks by 2019.

German energy giant Innogy new strategy 1.2 billion euros to invest in electric vehicles, solar and fiberglass

At present, Innogy has been completely separated from the parent company RWE, and last year in the stock exchange successfully listed, currently focused on natural gas and power networks, renewable energy and energy retail. RWE will still hold 76.8% of the shares.

An Innogy spokesman said that € 1.2 billion has been incorporated into Innogy's existing investment plan. It is reported that 2017-2019 period, the company's business investment will reach 65-70 billion euros.

Innogy announced details of its corporate strategy, said it would strengthen its portfolio through acquisitions and divestitures, and deal with business units that had not yet taken the leading market share and profit margins by 2025.

"In the long run, for the business sector, the positive figures are not enough to meet the business needs of future planning.

If we want to be a truly independent company in the future, we need to be the best. "Said Peter Terium, chief executive, in a statement.