E.ON has handed over 13 of its Austrian hydro power plants to local utility Verbund after promising to promote better competition in the power markets in the EU.
The plants, situated on the River Inn, have a total capacity of 312MW, with a yearly output of about 1,800GWh.
E.ON received cash and electricity drawing rights for the plants, as well as from its hydro storage plant.
Meanwhile, E.ON's coal-fired plant at Ratcliffe, in England, has been named as the next target of climate campaigners who said they would attempt to have the planned shut down in October.
At the London Climate Camp activists set aside 17 and 18 October to target the plant – named by the EU as the 18th most polluting in Europe in 2008.
The activists have warned they will 'break into the plant and occupy the chimney' according to local media reports.