Bünting took over from renewables pioneer Fritz Vahrenholt in July, after four years as chief financial officer.
His move came as parent company RWE — like other big utilities — feels pressure on its capital expenditure (capex) capacity. In July, ratings agency Standard & Poor’s downgraded its long-term debt from A- to BBB+, citing weak profitability and challenging market conditions.
However, the Innogy division is in a relatively privileged position as the German company pushes ahead with plans to transform from being a generator using mainly dirty lignite coal and nuclear to one sourcing a substantial part of its energy from renewables.
“It’s
