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RWE Takes Control of Amprion, Expands Push into Grid Infrastructure

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Germany's largest power producer, RWE, has raised its stake in transmission system operator Amprion to a majority position through a 3.6 billion euro ($4.11 billion) transaction, strengthening its presence in Europe's regulated electricity grid sector, the company said in a Monday statement.

The deal increases RWE's indirect holding in Amprion to 55%, giving it control of Germany's second-largest high-voltage transmission operator. The company added a 35% indirect stake as part of the transaction.

To finance the acquisition, RWE is issuing new shares worth up to 10% of its existing equity through an accelerated bookbuild. Major shareholders Qatar Investment Authority and Norges Bank have committed to buying 1 billion euros worth of the new shares, providing key support for the fundraising.

RWE said it expects the deal to immediately boost earnings per share.

Chief executive, Markus Krebber, said the move deepens the company's exposure to regulated infrastructure. He said expanding into transmission grids alongside renewables and flexible power generation forms part of a broader strategy to stabilize earnings while capturing long-term growth tied to Europe's energy transition.

The company is reaffirming plans to invest 35 billion euros globally and continue increasing its dividend by about 10% annually.

RWE also plans to channel an additional 6.5 billion euros into Germany's transmission network through 2031 via its Amprion stake. The company said regulated grid assets should improve cash flow predictability and support long-term investment in Europe's power infrastructure buildout.

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