While Europe's main priority is to make its energy supply more efficient and climate friendlier, other parts of the world still have a lot of catching up to do in terms of expanding their generation capacity. We have outstanding expertise, particularly in the construction of new conventional and renewable generating facilities. Going forward, we intend to do even more to leverage our outstanding expertise and experience. 

E.ON currently operates businesses in two regions outside Europe: renewables generation in North America and conventional generation in Russia. We intend to further develop our operations in North America in line with the policy and regulatory environment for renewables. In Russia, we'll continue executing our successful conventional new-build program, which will provide a quick return on investment. Going forward, E.ON will tap two additional growth regions for conventional and renewable generation. In this effort, we'll focus exclusively on offering solutions that significantly improve the energy supplies in these regions. We also intend to expand our trading business on a global scale.

Criteria for new regions

The two new regions will have to meet a number of clear criteria: large markets with above-average growth, a need for E.ON's superior skills and systems expertise, a stable legal and regulatory environment, and cultural compatibility.

Our investment approach will be highly disciplined and focus on organic growth. By designing the right business models and working with local partners, we'll limit market and commodity risks. We aim to increase EBITDA from our operations outside Europe from about 5 percent today to 25 percent by 2015.