EnBW earnings from renewables rose to €331.7m in 2017, up 13.3% compared with the €295.3m posted in 2016.
The German energy company said the results, which were announced today, were boosted by higher yields at its offshore wind farms and some 160MW of new onshore capacity.
Improved wind power output helped to offset low water levels that impacted generation from EnBW’s run-of-river hydro plants.
Electricity from hydro was also sold at a lower price on the forward market than the previous year, the company added.
Investment in renewables soared in 2017 to €706m from €295m in the previous 12 months. This was due to the preparations being made for the 497MW Hohe See and 112MW Albatros offshore wind farms, EnBW said.
Overall, EnBW’s adjusted EBITDA reached €2.11bn in 2017, 9% above the previous year.
Image: EnBW
Strong wind blows for EnBW
By EBS