German energy giants E.On and RWE have reached an agreement on a major exchange of business activities, promising a significant shake-up of the duo’s energy interests.

RWE International SE (innogy), a leading European energy company, has signed a share purchase agreement to takeover German solar and energy storage specialist Belectric.

German utility firm RWE has launched a power-to-gas storage system, which it claims has achieved efficiencies as high as 86%.