In the first six months of 2024, RWE achieved adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €2.9 billion and adjusted net income of €1.4 billion. Green electricity production reached 26 terawatt hours (TWh) in the first half of 2024, with 45 percent of RWE’s power generation coming from renewable sources.
During this period, the company invested a net €4.5 billion in new plants and made final investment decisions on additional wind, battery, and solar projects with a total capacity of 2.9 GW. Notable projects include the offshore wind developments Nordseecluster in Germany and OranjeWind in the Netherlands. A total of 10.2 GW of new capacity is currently under construction.
The Offshore Wind segment reported adjusted EBITDA of €828 million, up from €762 million in the first half of 2023, primarily due to improved wind conditions.
The Onshore Wind/Solar segment recorded adjusted EBITDA of €730 million, compared to €519 million in the same period last year. This increase is attributed to the commissioning of new capacity, the full six-month contribution from Con Edison Clean Energy Businesses in the US, higher electricity prices, especially in the US, and more favourable weather conditions.
RWE has maintained its guidance for adjusted EBITDA to be within a range of €5.2 billion to €5.8 billion, and for adjusted net income to be between €1.9 billion and €2.4 billion, with expectations to close at the lower end of these ranges.
