STEAG

Established in 1937 as "Steinkohlen-Elektrizität AG" to supply power to the Ruhr region's industry, STEAG GmbH has evolved into a multifaceted energy entity. Originally founded by the Rheinisch-Westfälisches Kohlen-Syndikat, its focus shifted to public energy supply after World War II. A significant milestone occurred in early 2023 when the company was structurally divided into two distinct operational units: STEAG Power GmbH, which manages the legacy coal-fired power generation, and Iqony GmbH, which is dedicated to renewable energies and future-oriented growth sectors. This reorganization preceded the company's full acquisition by the Spanish infrastructure investor Asterion Industrial Partners, effective January 1, 2024.

STEAG operates as a holding company for its two primary subsidiaries, STEAG Power and Iqony, navigating a strategic transition away from fossil fuels. STEAG Power operates several hard-coal-fired power plants in Germany and holds international assets, contributing to the security of the energy supply while adhering to a long-term strategy of phasing out coal-based power generation. Revenue is generated from the sale of electricity, heat, and ancillary services. The company serves industrial clients, municipalities, and utilities, offering solutions across the energy value chain, from plant planning and construction to operation and energy trading.

The company's strategic pivot is embodied by Iqony, which concentrates on green technologies. Iqony's portfolio includes photovoltaics, wind energy, geothermal projects, hydrogen solutions, and large-scale battery storage systems for grid stability. This division provides comprehensive services for the decarbonization of industry and municipalities, district heating, and digitalization of the energy sector. For instance, Iqony develops, constructs, and operates renewable energy plants and offers engineering and technical services globally, with a presence in countries like India and Brazil. A key product is the development of large-scale battery storage to provide primary control reserve, helping to balance frequency fluctuations in the power grid. Furthermore, its subsidiary SENS (now part of Iqony) is a key player in developing and constructing solar projects and is expanding its independent power producer (IPP) portfolio.

Keywords: energy transition, power generation, district heating, renewable energy, battery storage solutions, decarbonization services, energy infrastructure, power plant operation, electricity trading, hydrogen solutions, solar energy, wind power, geothermal energy, engineering services, asset management, grid stability, STEAG Power, Iqony, energy services, international energy projects