"Our ambitious target is to reduce our CO2 (carbon dioxide) emissions to roughly 0.36 tonnes per megawatt-hour by 2030, 50 percent less than in 1990," Bernotat said.

"Along with a massive expansion of our renewables capacity, we plan to achieve this target by making significantly higher investments in new technologies," the E.ON chairman said.

E.ON said it was planning 60 billion euros (81 billion dollars) of investments through the end of 2010 "to expand our business and achieve targeted growth in our core European market and adjacent growth regions."

About 12 billion euros had been earmarked for the construction of technologically advanced, climate-friendly power plants, E.ON said.

And 3.0 billion euros had been earmarked for renewable energy, "particularly new wind power plants."

The acquisition of Endesa assets in Europe and Viesgo was expected to cost about 10 billion euros.

"Our extensive program to build new power plants, the integration of Viesgo and Endesa power plants, and subsequent investments will increase our generating capacity by 50 percent by 2010," it said.

E.ON said it also planned to invest 10 billion euros in its gas business and some 6.0 billion euros had been earmarked "for growth initiatives in the Russian power market, Turkey, and south eastern Europe," it added.

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