RWE today confirmed its renewables division more than doubled its earnings in 2015 to €493m, up from €186m the previous year.
The German energy company said the increase was because it added about 1GW of new wind farm capacity last year, including the 295MW Nordsee Ost and 576MW Gwynt y Mor offshore wind farms.
Renewables now makes up the largest share of RWE’s generating capacity after coal and gas.
However, the success of the renewables unit could not offset an overall fall in earnings for the company because of issues with conventional power generation.
But, it said, the 2% decline in EBITDA to €7bn compared with the previous year was less than expected.
RWE chief executive officer Peter Terium (pictured) said: “Renewables are increasingly becoming a main pillar of our business.
“Besides the operational business, our entire focus in 2016 will be on restructuring the group to lay the foundations for further growth.”
Terium is to head up RWE’s new renewables, grids and retail subsidiary, which will start operating on 1 April.
Image: RWE
