EnBW raises €3.1bn to finance a historic investment programme through 2030

Energie Baden-Württemberg AG announces the completion of a €3.1bn capital increase to support its investment plan, with strong shareholder participation, marking a major milestone for the group’s financial strategy.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €2/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

Energie Baden-Württemberg AG (EnBW) has finalised a capital increase totalling €3.1bn ($3.36bn) after issuing 53,556,139 new shares at a price of €58 each. According to the press release, the vast majority of shareholders subscribed to the operation, reflecting investors’ confidence in the trajectory of the Karlsruhe-based energy company. The operation was carried out based on a resolution adopted at the end of June and backed by the main shareholders, including the State of Baden-Württemberg and Zweckverband Oberschwäbische Elektrizitätswerke.

Funds raised to support record investments
EnBW stated that this strengthening of its equity will enable the financing of the largest investment programme in its history, valued at €50bn ($54.15bn) between 2024 and 2030. Nearly €26bn ($28.16bn) from this total will be allocated between 2025 and 2027. These investments will primarily focus on expanding electricity transmission and distribution networks, constructing wind and solar farms, commissioning hydrogen-ready flexible power plants, as well as developing a core hydrogen network and electromobility in southwestern Germany.

The company stated that the capital increase significantly improves its financial flexibility. According to Thomas Kusterer, Deputy Chief Executive Officer and Chief Financial Officer, this transaction, combined with operating earnings and future participation models and external financing, ensures the necessary funding base for projects planned through 2030.

Accelerated procedure and imminent listing
The issuance of new shares used a simplified procedure enabled by a recent provision under the European Union Prospectus Regulation, allowing the administrative process for such an operation to be expedited. Once the capital increase is registered, EnBW’s share capital will reach €845,211,758, divided into 330,160,843 shares.

The listing of the new shares is scheduled for July 18, which is expected to enhance market liquidity. The company stated that the transaction reinforces EnBW’s position as Germany’s leading integrated energy provider. Dr Georg Stamatelopoulos, Chief Executive Officer, said that the successful completion of the transaction demonstrates shareholders’ commitment to the group’s long-term growth strategy, as reported in EnBW’s press release dated July 15.

GFL Environmental announces the recapitalization of Green Infrastructure Partners at an enterprise value of $4.25bn, involving new institutional investors and a major redistribution of capital to its shareholders.
Uniper reaffirms its targets for the year, narrows its forecast range, and strengthens its transformation strategy while launching cost-cutting measures in a demanding market environment.
BrightNight’s Asian subsidiary becomes Yanara and positions itself as an independent player to strengthen the development of large-scale renewable energy solutions in the Asia-Pacific region.
Brookfield acquires 19.7% of Duke Energy Florida for $6 billion, strengthening the group's investment capacity and supporting a five-year modernisation plan valued at $87 billion.
With a net profit of $1.385bn in the second quarter of 2025 and a sharp rise in capex, ADNOC Gas consolidates its position in the global natural gas market.
Siemens Energy posts historic third-quarter orders, significant revenue growth and lifts its dividend ban, reinforcing its backlog strength and ambitions for profitable growth in 2025.
The proliferation of Chinese industrial sites abroad, analysed by Wood Mackenzie, allows renewable energy players to expand their hold on the sector despite intensified global protectionist measures.
Pedro Cherry becomes chief executive officer of Mississippi Power, succeeding Anthony Wilson, as the company navigates regional growth and significant challenges in the energy sector of the southern United States.
METLEN Energy & Metals makes its debut on the London Stock Exchange after a share exchange offer accepted by more than 90% of shareholders, opening a new phase of international growth.
Q ENERGY France secures a EUR109mn loan from BPCE Energeco for the construction of two wind farms and two solar power plants with a combined capacity of 55 MW.
The Canadian energy infrastructure giant launches major projects totaling $2 billion to meet explosive demand from data centers and North American industrial sector.
Chevron’s net profit dropped sharply in the second quarter, affected by falling hydrocarbon prices and exceptional items, as the group completed its acquisition of Hess Corporation.
ExxonMobil reports a decrease in net profit to $7.08bn in the second quarter but continues its policy of high shareholder returns and advances its cost reduction objectives.
Sitka Power Inc. completes the acquisition of Synex Renewable Energy Corporation for $8.82 mn, consolidating its hydroelectric assets and strengthening its growth strategy in Canada.
DLA Piper assists Grupo Cox in a planned transfer of Iberdrola assets in Mexico, with a reported value of $4.2 billion, mobilising an international legal team.
Italian group Enel reports net profit of €3.4bn for the first half, down from last year, while revenue rises to €40.8bn amid market volatility.
Atlantica Sustainable Infrastructure takes over Statkraft’s Canadian platform, including all operational and development-stage wind, solar, and storage assets in Canada.
Energy group Engie confirms its financial outlook for 2025 despite what it describes as an uncertain international context and lower prices that weighed on its results in the first half.
Encavis AG announces the acquisition of a 199 MW portfolio consisting of three wind farms and two photovoltaic plants in Aragon, marking a key step in the group's technological diversification in Spain.
TC Energy reports higher financial results in the second quarter of 2025, boosts investments and anticipates a rise in annual EBITDA driven by growing natural gas demand in North America.