KELAG to acquire French and Portuguese hydropower assets from RWE.

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.