- Published: 11 August 2022 11 August 2022
RWE is actively forging ahead with the implementation of its Growing Green strategy. In the first half of 2022, the Group invested about €2 billion in the expansion of its green portfolio. Total investments will come to more than €5 billion by the end of 2022.
In the first six months of the current year alone, new wind farms, solar plants and battery systems with a total net installed capacity of about 1.2 gigawatts (GW) were commissioned. This increase in capacity and better wind conditions led to RWE generating about 20% more electricity from renewables in the first half of 2022 compared to the same period last year. The company currently has projects with a total of 4.8 GW under construction. RWE will also acquire the hydrogen-ready 1.4 GW Magnum power station in the Netherlands.
At €2,858 million, adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) at Group level for the first half of 2022, exceeded the previous year’s figure (H1 2021: €1,751 million). Adjusted EBIT was €2,104 million (H1 2021: €1,042 million).
Adjusted net income also showed an improvement, increasing to €1,566 million (H1 2021: €870 million). RWE thus confirms its provisional figures for the first half of 2022 and the outlook for the current year released on 27 July 2022.
Offshore Wind: Adjusted EBITDA in the Offshore Wind segment in the first half of 2022 totalled €632 million, compared to €459 million in the same period the previous year. This increase was due mainly to the commissioning of new capacities as well as higher wind levels compared to the previous year. For the current year, RWE expects adjusted EBITDA of between €1.35 billion and €1.6 billion in this segment.
Onshore Wind/Solar: In the first six months of 2022, adjusted EBITDA in the Onshore Wind/Solar segment reached €491 million. Earnings were negative in the same period the previous year on account of losses of approximately €400 million due to the extreme weather in Texas, USA. Here, too, additional capacity and more favourable wind conditions had a positive impact. For the current year, RWE expects adjusted EBITDA of between €0.9 billion and €1.1 billion in this segment.