e.on se -sponsored adr (EONGY) Key Developments
E.ON Announces the Large-Scale Solar Project in the U.S. Maricopa West
Sep 2 15
E.ON announced the start of a further large-scale solar project in the U.S. Maricopa West, a 20 megawatt solar project in Kern County, California, has entered the construction phase. The solar park will consist of 89,000 photovoltaic panels and be fully operational later this year. Maricopa West is the second project built by E.ON in California after successfully accomplishing previous solar projects in Arizona. In August E.ON completed Alamo Solar Park in San Bernardino County. The 20 megawatt photovoltaic solar facility is located near the town of Oro Grande. E.ON is expanding its development pipeline across the U.S. A flexible business model based on global experience enables E.ON to deliver high-value renewable energy projects, regardless of whether E.ON or another entity is the owner or operator.
Romania Loses Arbitration Case against E.ON
Aug 20 15
Romania has lost a case against E.ON at the International Court of Arbitration in Paris and should pay about EUR 2 million to the company in legal expenses. Romania had filed the case against E.ON, asking the company to pay EUR 33 million for failing to comply with certain conditions included in the privatization contract of power distributor Electrica Moldova.
E.ON SE Reports Earnings Results for the First Half of 2015; Reaffirms Earnings Guidance for Fiscal 2015
Aug 12 15
E.ON SE reported earnings results for the first half of 2015. The company said that first-half profits were hit by falling wholesale electricity prices, lower oil prices and a weak ruble. Underlying or operating profit, as measured by earnings before interest, tax, depreciation and amortisation (EBITDA), fell by 13% to RUB 4.3 billion versus EUR 4.9 billion a year ago. The decline is largely driven by lower achieved prices in power and oil, the weak ruble as well as disposal effects. Underlying net profit slumped 21% to RUB 1.2 billion. First-half sales increased by about 5.0% to RUB 57.3 billion. CapEx was almost stable compared to last year's level at EUR 1.6 billion.
Looking ahead, the company said it was sticking to its forecasts for full-year 2015 of EBITDA in the range of EUR 7.0 billion to EUR 7.6 billion and underlying net profit to be between EUR 1.4 billion and EUR 1.8 billion. The tax rate guidance for the full year is 25% to 30%.
E.ON SE Affirms its Plan to Pay Out a Fixed Dividend for the 2015 Financial Year; Plans to Build Two More Large Offshore Wind Farms
Aug 12 15
E.ON SE affirmed its plan to pay out a fixed dividend EUR 0.50 of per share for the 2015 financial year.
The company plan to build two more large offshore wind farms, one off the U.K. coast, the other in the German Baltic Sea.
E.ON Plans To Spin-Off Assets
Aug 12 15
E.ON SE (DB:EOAN) called for a clear political framework for its loss-making gas- and coal-fired power plants, assets it plans to spin off next year as they can no longer compete with rival solar and wind power.