RWE reports 22 percent more electricity from wind and solar year on year
Post date: 27/03/2023 - 16:24
German energy group RWE AG has announced its results for fiscal 2022. According to the report, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to € 6.3 billion ($ 6.8 billion) after € 3.7 billion in the previous year. The company cited both the capacity expansion in renewable energies and improved market conditions in power generation, particularly in terms of price levels and operating times, as reasons for the improvement.
Disproportionate growth has been achieved in the onshore wind and solar segment, which generated adjusted EBITDA of € 0.8 billion in fiscal 2022 (previous year: € 0.3 billion). RWE expects this segment to increase further to between € 1.1 billion and € 1.5 billion in 2023 – despite the burdens from the electricity revenue levies. EBITDA for the German coal and nuclear business was € 0.75 billion in 2022 and is expected to continue to lag behind onshore wind and solar in 2023, with an anticipated € 0.8 billion to € 1.2 billion. Markus Krebber, CEO of RWE AG, announced continued »massive investments in our green core business« when presenting the figures.