RWE’s renewables division more than doubled its earnings for 2015 after two new offshore wind farms entered commercial operation during the year.
The German energy company will reveal the earnings spike next month when it publishes its annual report. Market sources said the figure is around €400m, up from €186m in 2014.
RWE commissioned the 576MW Gwynt y Môr offshore wind farm off the coast of North Wales and the 295MW Nordsee Ost near Heligoland in the German North Sea during 2015.
The company also said it is making “rapid progress” with plans for a new stock market-listed renewables, grid and supply spin out.
RWE said it plans to increase the new company’s capital by around 10% by the end of this year.
Image: the Gwynt y Môr offshore wind farm (RWE)
