EnBW acquires majority holding in Kraftwerk Laufenburg AG (KWL)
Karlsruhe. Through its subsidiary EnAlpin AG (Zug), EnBW Energie Baden-Württemberg AG has acquired the 76.6 percent shareholding in Kraftwerk Laufenburg AG (KWL) previously held by Watt AG (Dietikon). An agreement to this effect was signed by Watt AG and EnBW AG on Thursday, (August 1, 2002). This means that EnBW has also taken over Kraftübertragungswerke Rheinfelden AG (KWR), as KWL has held 69.28% of the shares in KWR since May 2002. The takeover of KWL by EnBW is subject to approval by relevant anti-trust authorities.
KWL and KWR operate the Upper Rhine run-of-river power stations at Laufenburg, Rheinfelden and Grenzach-Wyhlen as well as other hydroelectric power stations. They serve over 200,000 power customers – primarily in the southern region of Baden-Württemberg – via the joint KWL/KWR operational management subsidiary EnergieDienst GmbH and their own networks. In 2001, the KWL/KWR partnership sold around 6.3 billion kilowatt hours of electricity. Consolidated net sales of KWL totalled € 139 million in 2001, while KWR posted consolidated net sales of € 130 million – accompanied by 2001 earnings of € 30 million (KWL) and € 27 million (KWR).