EnBW earnings from renewables fell slightly to €152.4m in the first half of 2017, compared with €153.1m in the same period last year.
Revenue was down almost 4% to €244.5m from €254.5m in 2016, the German company reported today.
It said the results were impacted by low water levels at its run-of-river hydro power plants, despite higher wind yields at EnBW’s offshore wind plants.
Electricity from the company’s hydro plants was also sold at a lower prices on the forward market than the previous year, EnBW added.
However, investment in renewables was higher than last year at €240m compared with €50.6m due to the start of construction at the 497MW Hohe See and 112MW Albatros offshore wind farms, the company said said.
It added that there was also a “significantly higher rate of expansion” in onshore wind compared with 2016.
EnBW chief financial officer Thomas Kusterer said: “We will continue to invest in the expansion of grids, in onshore and offshore wind power, in electromobility and in new products for our customers.”
Image: EnBW
EnBW green earnings dip
Low water levels impact run-of-river hydro plants in first half of 2017
By EBS