EnBW’s renewable energy division increased earnings by 75% to €153.1m in the first half of 2016, up from €87.5m in the same period last year.
Overall, the German utility made a net loss of €194m in the first half of 2016, down from a €1057m profit in the same period last year.
EnBW’s said the renewable energy division’s share of the group’s EBITDA rose to 15.8% from 6.9%.
The good result for renewables is primarily due to the full commissioning of the 288MW Baltic 2 offshore wind farm in the German Baltic Sea in the second half of 2015.
The Baltic 2 earnings compensated for the negative performance of the company’s run-of-river plants, EnBW said.
The overall loss was primarily due to temporary effects, such as planned maintenance of its Philippsburg 2 nuclear plant, EnBW chief financial officer Thomas Kusterer told journalists during a conference call.
Image: turbine installation at Baltic 2 (EnBW)
Baltic 2 eases EnBW pain
Renewables earnings up 75% in first half of 2016 compared with last year
By EBS