RWE has delivered strong financial results in 2024, with adjusted EBITDA reaching €5.7 billion, exceeding expectations. The company invested €10 billion in expanding its renewable energy portfolio, with approximately 150 projects under construction totaling 12.5 gigawatts.
Renewable energy now accounts for over 40 percent of RWE’s electricity production, while CO2 emissions declined by 13 percent.
In response to global uncertainties, RWE has tightened investment criteria, reducing planned spending to €35 billion between 2025 and 2030. This indicates that RWE has reduced its investment program through 2030 by €10 billion.
The company has raised return requirements for new projects to an average of over 8.5 percent.
CEO Markus Krebber said RWE will invest less in the coming years than previously planned as a result of stricter risk management and higher return expectations. A total of €35 billion is now planned for the years from 2025 to 2030, about €10 billion net less than previously planned.
“Our construction projects, totalling more than 12 gigawatts, are progressing. Given higher uncertainties in the investment environment, we have raised the requirements for future investments. As a result of stricter risk management and higher return expectations, we will invest less than planned through to 2030,” Markus Krebber, CEO of RWE, said.
RWE’s 2024 business performance showed mixed results across segments. Offshore wind earnings fell slightly to €1.6 billion due to lower electricity prices and higher maintenance costs.
The onshore wind and solar segment saw increased earnings of €1.5 billion, driven by new projects and the full-year contribution of Con Edison Clean Energy Businesses.
Flexible generation earnings dropped to €1.9 billion, while supply and trading outperformed expectations at €0.7 billion.
Despite high capital expenditures, RWE maintained a solid financial position with net debt rising to €11.2 billion. The leverage factor remained well below the company’s upper limit.
Looking ahead, RWE forecasts adjusted EBITDA for 2025 between €4.55 billion and €5.15 billion and plans continued expansion in renewables, battery storage, and flexible power generation to meet growing electricity demand.
Baburajan K