KELAG, an Austrian energy company, agreed to acquire French and Portuguese hydropower assets from RWE, an energy company. Financial terms were not disclosed. RWE has a stake in KELAG since 2001, with a current shareholding of 37.9%. In autumn 2020 the state of Carinthia and RWE agreed to continue their successful partnership for a further decade. By working together they aim to further expand and bolster the position of KELAG as a leading energy utility and centre of competence for hydro-electricity.