Germany’s E.ON Stakes Its Future on Renewable Power

Germany's E.ON SE said on Sunday, Nov. 30, it will spin off its conventional power generation, energy trading and exploration operations into a new company and expects to book a a 4.5 billion writedown as it turns its attention to renewable energy. The move is the most radical step yet in a long-running restructuring of E.ON, which had until this week focused on offloading assets to pay down about a 31 billion of debt.

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