RWE’s offshore wind segment reported €656m in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the first three quarters of 2021, compared with €738m for the same period in 2020.
The wind volume in Northern and Central Europe, which was “well below” the level of the previous year, had a negative impact, RWE said.
For the current year, RWE expects adjusted EBITDA of between €1.05bn and €1.25bn for this segment.
In the first three quarters of 2021, RWE’s onshore wind/solar segment recorded adjusted EBITDA of €36m, compared with €373m in the same period in 2020.
The extreme cold snap in Texas reduced earnings by approximately €400m, the company said.
Further burdens resulted from below-average wind conditions at onshore wind farm locations in Northern and Central Europe.
For the current year, RWE expects adjusted EBITDA of between €50m and €250m for this segment.
The overall RWE Group reported adjusted EBITDA of €2.4bn, compared with €2.2bn in the same first three quarters of 2020.
Gross investment of €2.5bn in wind power and solar plants as well as batteries in the first three quarters of 2021 represent an increase of about 80%, said RWE.
RWE chief financial officer Michael Muller (pictured) said: “Despite weather-related impacts, we achieved a better result for the first three quarters than in the same period last year.
“That’s mainly thanks to the outstanding performance of Supply & Trading. Our portfolio capacity is growing fast, 3.8GW of wind power and solar plants as well as storage facilities are currently under construction.
“That will easily take us to our target of more than 13GW by 2022.
“We are also expanding our pipeline by adding a number of new and attractive projects. We are well on track. And the entire Team RWE is playing its part.”