“Our ‘Growing Green’ strategy is paying off – more than half of our adjusted EBITDA is already coming from our wind and solar energy business. Our power production from renewables reached a record level of 26 terawatt hours and accounted for 45 per cent of total generation. At the same time, we have significantly reduced our CO2 emissions.

We are continuing to invest billions of euros in the value-creating expansion of our geographically and technologically broadly diversified portfolio. At the same time, the demand for green electricity continues to rise. RWE is ideally positioned to continue to drive the energy transition both in Germany and internationally”, Markus Krebber, CEO of RWE AG said.

45% of generated power from renewables

In the first half of 2024, the company invested €4.5 billion net in new plants and made the final investment decision for the construction of further wind, battery and solar projects with a total capacity of 2.9 gigawatts (GW). These include the offshore wind projects Nordseecluster in Germany and OranjeWind in the Netherlands. A total of 10.2 GW of new capacity is currently under construction.

See also what EDP does: “Investment plan of 17 billion € in the energy transition by 2026”

Green electricity production reached a record level of 26 terawatt hours (TWh) in the first half of 2024. 45% of the power generated by RWE came from renewable sources. At the same time, RWE has further reduced its CO2 emissions significantly, by 27% compared to the first half of 2023.

Business development in the first half of 2024 by segment

Offshore Wind: Adjusted EBITDA in the Offshore Wind segment amounted to €828 million, compared to €762 million in the first half of 2023. The increase in earnings is mainly due to improved wind conditions compared to the previous year.

Onshore Wind/Solar: The Onshore Wind/Solar segment recorded adjusted EBITDA of €730 million compared to €519 million in the first half 2023. The positive earnings development is due to the commissioning of new capacity and the recognition of the business activities of Con Edison Clean Energy Businesses in the US for the full six months. In addition, RWE realised higher electricity prices than in 2023 – above all in the US – and benefited from more favourable weather conditions.

Flexible Generation: Adjusted EBITDA of the Flexible Generation segment decreased to €1,014 million in the first half of 2024 from €1,949 million in the prior-year period. The margins on electricity forward sales and income from the short-term optimisation of power plant dispatch fell short of the exceptionally high level recorded last year.

Supply & Trading: At €318 million, the segment’s adjusted EBITDA was significantly below the previous year’s figure of €799 million. Performance was below the extraordinarily high level of 2023.

As of fiscal 2024, RWE has pooled the lignite-fired power generation business and the nuclear decommissioning activities as ‘Phaseout Technologies’ and has been managing them based on adjusted cash flows. This business is no longer included in adjusted EBITDA, adjusted EBIT and adjusted net income. (hcn)





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The pilot project aims to test and demonstrate the structural, mooring and electrical designs and acquire knowledge about manufacturing, assembly, offshore installation and maintenance methodologies required for large-scale commercial deployment of OFPV.

12 kilometers off the coast of Scheveningen

Merganser has a capacity of 0.5 MW and is located in the Dutch North Sea, approximately 12 kilometers off the coast of Scheveningen. The scalable concept consists of six interconnected platforms that can withstand extreme offshore conditions. The floating platforms were successfully connected to the mooring system in water depth of 20 meters. RWE will continue to provide its offshore know-how and technical support to the pilot project.

Also see: Accelerate deployment of offshore PV floating

Sven Utermöhlen, CEO of RWE Offshore Wind: “Standalone or also in combination with offshore wind farms, offshore floating solar could open up further offshore renewable energy opportunities – especially for countries with lower average wind speeds but lots of sunlight. With Merganser, we are gaining unique insights and first-hand experience in one of the most challenging offshore environments in the world.”

Following the waves like a carpet

Taking solar farms offshore requires technology that is able to withstand rough offshore conditions. SolarDuck´s triangular-shaped platform is designed to float several meters above the water, following the waves like a carpet. In this way, the design is keeping critical components dry, clean and stable, as well as securing the structural integrity of the semi-submersible floating structure. The design received recently the world’s first certification for OFPV by Bureau Veritas.

SolarDuck

Close aerial view of Merganser.

Koen Burgers, CEO SolarDuck: “The successful installation of Merganser is proof of the dedication of SolarDuck’s team to electrify the world with offshore floating solar. However, we are not doing this alone. Our project partner, RWE, is a supporter of our technology and vision, in addition to other partners such as TNO, TU Delft, MARIN, and Deltares. Together with numerous supply chain partners, including Damen Shipyards, TMA, and Norsk Hydro, we have turned hard work into a positive change for the energy space.”

More than 180 monitoring sensors

The combination of RWE´s leading global market position in offshore wind and SolarDuck´s technological ingenuity sets the perfect base for accelerating the deployment of OFPV. Over the coming two years, Merganser will be monitored remotely with its more than 180 sensors fitted to monitor structural loads, connector and mooring loads and electrical performance, among other important performance criteria.

Also see: Floating PV Best Practice Guidelines published 

Further to the above, Deltares – a Dutch independent institute for applied research – will support an extensive monitoring campaign on the ecological impact of OFPV. (hcn)





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