RWE has reported a notable increase in earnings across its offshore wind and onshore wind/solar segments for the first half of 2024. The company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in its offshore wind segment reached €828 million, up from €762 million in the same period last year. This growth was primarily attributed to improved wind conditions.
In its onshore wind/solar segment, RWE recorded an adjusted EBITDA of €730 million, a substantial rise from €519 million in the first half of 2023. The company credited this positive development to the commissioning of new capacity and the full six-month contribution from Con Edison Clean Energy Businesses in the United States.
Additionally, RWE benefited from higher electricity prices, particularly in the U.S., and more favorable weather conditions. Markus Krebber, CEO of RWE, emphasized the success of the company's renewable energy strategy, stating, “Our ‘Growing Green' strategy is paying off—more than half of our adjusted EBITDA is already coming from our wind and solar energy business.”
RWE's renewable energy production reached a record level of 26 terawatt hours (TWh) in the first half of 2024, with 45% of the company's total power generation coming from renewable sources. The company also achieved a significant reduction in CO2 emissions, down 27% compared to the same period last year.
RWE invested €4.5 billion net in new plants during this period and made final investment decisions for further wind, battery, and solar projects totaling 2.9 gigawatts (GW) of capacity. Notable projects under construction include the Nordseecluster offshore wind farm in Germany and the OranjeWind project in the Netherlands.
RWE's CEO reiterated the company's commitment to the energy transition, both in Germany and internationally, as demand for green electricity continues to rise.
