EnBW reported a 5% drop in adjusted EBITDA to €794m in its renewable energy business last year, due to poor wind conditions across Germany.
The proportion of total electricity generation accounted for by renewable energies fell slightly in 2021 to around 43% in comparison with the 45.4% in the previous year, the EnBW board reported.
Adjusted EBITDA in thermal generation and trading rose 67.6% year-on-year.
This resulted from higher generating volumes at conventional power plants and greater wholesale market volatility.
EnBW chief executive Frank Mastiaux (pictured) said: “The pace of growth is further accelerating in renewables, in the ongoing expansion of electricity and gas distribution, in electric mobility and in telecommunications.
“For EnBW, this means an even broader range of investment opportunities in the years ahead, both in our established businesses and in new business areas.
“We now have to further accelerate the transition to carbon-neutral energy supplies in Germany for the long term.
“This applies for all investment in renewables and the hydrogen sector and for the respective necessary infrastructure, from electricity and gas grids to electric mobility.
“This, together with effective implementation processes, must be focal areas of energy policy, regulation and the way we organize ourselves.
“With its integrated set-up across the entire energy value chain and matching capabilities, EnBW will make an important contribution to this objective.”