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Innogy to spend 1.2 billion euro on e-mobility, solar, glass fiber

FRANKFURT (Reuters) – Innogy, Germany’s largest energy group by market value, will spend up to 1.2 billion euros ($ 1.43 billion) in e-mobility, photovoltaics and glass fiber networks by 2019, it said in a statement on Thursday.

Innogy has an existing investment plan of 6.5-7.0 billion euros over the next three years and it was not immediately clear from the statement whether the 1.2 billion would come on top of that or are part of the existing budget.

The group, which is majority-owned by RWE, also said that there would be “no taboos” with regard to its portfolio on its way to become a leader in all relevant markets by 2025, not specifying further.

Reporting by Christoph Steitz; Editing by Arno Schuetze

Our Standards:The Thomson Reuters Trust Principles.

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