RWE says newly named Innogy spin-off on track for 2016 listing

RWE's renewables and power distribution subsidiary Innogy is ready to make heavy investments in its power grids, the Chief Executive of Germany's second biggest energy utility told investors on Thursday, as it prepares to list shares in the newly-named unit by the end of the year. RWE last year unveiled the plans to separate its renewable power generation, distribution and retail businesses from its troubled thermal and nuclear power generation operations, which have been hit by Germany's drive