RWE’s offshore wind business posted €380m in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for Q1, compared with €548m in Q1 of 2024.
The main reason for the decrease was lower earnings due to poor wind conditions.
In addition, prices and margins for electricity forward sales declined.
RWE’s onshore wind/solar business achieved adjusted EBITDA of €496m in Q1 2025 compared with €341m in Q1 of 2024.
The commissioning of new plants led to earnings growth despite generally poor wind conditions at European sites.
In addition, hedged prices on electricity sales in the US were significantly higher than last year.
In Europe, by contrast, lower hedged prices were realised overall.
In 2024 RWE’s offshore wind business reported adjusted EBITDA of €1.55bn compared with €1.66bn in 2023, while the onshore wind/solar business reported adjusted EBITDA of €1.5bn in 2024 compared with €1.2bn in 2023.