Essen, 20 July 2004This pressinformation is more than two years old

RWE Power concludes agreement on sale of Tapada gas-fired power plant.

RWE Power has signed an agreement with International Power plc. on the sale of its 75% interest in Turbogas, the 990 MW gas-fired power plant Tapada do Outeiro in Portugal, as well as all shares in the operating company Portugen. The agreement is subject to preemption rights of the Turbogas co-shareholders and the approval of the Portuguese antitrust authority and the financing banks. In addition, the sale is dependent upon approval by the relevant supervisory boards in the RWE Group. The sale price amounts to € 205 million.

With the sale, the RWE Group once again emphasizes its focus on the core business since the Tapada do Outeiro power plant operates as an independent power producer (IPP) in a market in which RWE has no related grid or marketing activities of its own. In total this transaction will reduce net debt of the RWE Group by approx. € 660 million.


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: This pressinformation is more than two years old