E.ON To Invest EUR2.6 Billion In Renewables Through 2013

German utility E.ON AG (EOAN.XE) Tuesday said it will invest EUR2.6 billion in renewables through 2013, as it marked the installation of a wind farm in Illinois .

MAIN FACTS:

-On Tuesday E.ON installed and successfully tested the first of 94 turbines of Settlers Trail wind farm. Located in Illinois , Settlers Trail will be the fourteenth wind farm E.ON has built in the US in just three years.

-With 150 megawatts of capacity, it will be able to supply more than 45,000 households with clean electricity.

-When completed Settlers Trail will take E.ON's a total installed wind capacity in North America over 2,000 MW, strengthening the company's position as one of the continent's wind-power leaders.

-Renewable-power in North America is one of E.ON's growth businesses outside Europe .

-In November 2010, E.ON announced that in the future it intends to generate about one quarter of its earnings in four regions outside Europe: North America (wind power), Russia (conventional power generation), and two other regions it is currently in the process of identifying.

-In 2010, E.ON invested more than EUR1 billion in renewables and expanded its wind and solar capacity by 600 MW to over 3,600 MW.

-E.ON plans to invest EUR2.6 billion more for the period 2011-2013.

-E.ON is expanding both its wind and solar capacity in Europe , where its biggest projects are two offshore wind farms.