RWE wants to grow vigorously - and get greener and greener in the process.
The energy company intends to invest significantly more in the expansion of renewable energies in the next few years than previously planned.
Essen - The energy group RWE is accelerating the expansion of renewable energies.
The company plans to invest around five billion euros annually in electricity generation from renewable energies and gas as well as energy trading by 2030 - a total of around 50 billion euros.
The aim is to increase the generation capacity from currently 25 to 50 gigawatts in 2030, RWE announced on Monday in Essen.
Increase the expansion speed
The rate of expansion is to be increased significantly for this.
If the company wanted to increase the total output per year by an average of 1.5 gigawatts, in the future it should be an average of 2.5 gigawatts per year.
The new growth strategy is called "Growing Green" (roughly: "Growing Green").
Among other things, RWE wants to increase its capacity for electricity generation at sea from the current 2.4 to 8 gigawatts in 2030.
An expansion from 7 to 20 gigawatts is planned for onshore wind turbines and solar systems.
The group also wants to grow in battery storage, where the capacity is to increase to 3 gigawatts.
RWE is currently involved in projects with a power line of 0.6 gigawatts.
RWE continues to rely on the operation of gas-fired power plants, which can produce electricity quickly if necessary.
RWE currently has around 14 gigawatts of installed capacity, the second largest gas-fired power plant fleet in Europe, it said.
Further systems with a total of at least 2 gigawatts of capacity are to be added by 2030.
The company emphasized that the new plants should be provided with “a clear decarbonisation path”.
A timetable is also being developed for all existing systems in order to convert them to “green”.
RWE also wants to expand trading in green energy sources.
The company announced that it intends to develop new business opportunities in hydrogen and ammonia imports for industry in Europe.
Future goals
The expansion should ensure that the adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) in the core business grows annually by nine percent.
"In 2030 it should be 5 billion euros," said RWE, probably more than twice as much as in the current 2021 financial year.
In the short term, too, RWE's earnings situation has developed positively, it said.
The company increased its forecast for 2022. If the group had previously announced an adjusted Ebitda of 3.1 to 3.4 billion euros, it should now be 3.3 to 3.6 billion euros.
The generation of electricity from coal and nuclear power, which is no longer part of the core business, will contribute around 550 to 650 million euros.
RWE intends to replace the earnings contributions from this segment by 2027 “with strong growth in its core business”.
also read
In the case of electricity, consumers are threatened with further price surcharges
The rising price of electricity is becoming more and more of a nuisance - for consumers and businesses.
Many see the federal government as responsible to stop the soaring.
In the case of electricity, consumers are threatened with further price surcharges
With food waste to "green kerosene"
There is no such thing as climate-neutral air travel.
At least not yet.
But the industry is working hard to develop green fuel.
With food waste to "green kerosene"
Corona causes Kiel's financial crisis to grow
The corona pandemic has noticeably worsened the budget situation in the Schleswig-Holstein state capital, Kiel.
This is shown by the draft budget for 2022, which Mayor Ulf Kämper (SPD) and treasurer Cristian Zierau presented on Thursday.
The city plans with revenues of 1.120 billion euros and expenditures of 1.209 billion euros.
Corona causes Kiel's financial crisis to grow
RWE confirmed its dividend target of 90 cents per share for 2021. This should be the lower limit in the coming years, the group promised.
Shareholder representatives welcomed the announcements.
"I think we're heading in the right direction," said the managing director of the German Association for Protection of Securities Holdings (DSW), Thomas Hechtfischer, of the German Press Agency.
"RWE will go green even faster than previously planned." Given the World Climate Conference in Glasgow, this was "the right signal".
Hechtfischer also praised the RWE dividend plans.
The fact that 90 cents should now be the new lower limit “pleases the shareholder”.
dpa
