Home Europe & UK RWE aims to continue growth in renewables
RWE aims to continue growth in renewables

RWE aims to continue growth in renewables


RWE Innogy’s operating result is expected to more than double in 2015. The company has therefore sustainably strengthened its position within the Group and on the market as a whole. RWE is today not only one of the world’s five largest operators of offshore wind farms, but, with an installed capacity of 2,000 megawatts, also one of the largest operators of onshore wind farms in Europe. It now intends to broaden this base by entering new markets and becoming involved in large-scale photovoltaic projects as well as through possible acquisitions. This growth is to be facilitated by the planned flotation of a new subsidiary.

“By deciding to combine renewables, grid and retail operations in one subsidiary with its own access to the capital market, we are laying the foundation for further growth in these fields of the future. We aim to float roughly 10% of the shares in the new company on the stock market towards the end of the year as part of a capital increase. According to current planning, over half of the proceeds of the flotation will be earmarked for the further expansion of renewable energies,” says Peter Terium, CEO of RWE AG.

“We will maintain our current successful course and examine the technologies and regions in which we can grow. Unlike in the past, however, we will not be setting ourselves targets measured in installed megawatts. After all, the primary focus is return on investment,” says Hans Bünting, CEO of RWE Innogy. “Overall, we see four major pillars for further growth: increasing shares in projects, organic growth in onshore and offshore wind, entry into new markets and expanding the portfolio to include large PV projects.”

In the renewable energies sector, RWE can also see growth opportunities for onshore wind in new markets such as Ireland, the United States and the MENAT region (Middle East, North Africa and Turkey).

In addition, RWE is planning a separate business area for large photovoltaic projects. Investments will centre on sunny locations like the MENAT region. “In the MENAT region we are pursuing a phased market entry in the photovoltaic sector. As a result of strong population growth and rapid economic development, these countries have set themselves ambitious growth targets for the expansion of electricity production. Renewables play a prominent role in this,” adds Bünting.

Only recently, at the end of 2015, RWE and the project development division of JinkoSolar, a Chinese manufacturer of solar modules, qualified to submit a tender for what is currently the region’s largest solar project: an 800-megawatt photovoltaic facility in Dubai. For the bidding process, the companies have formed a joint venture, in which RWE holds 51% and JinkoSolar 49%. When the facility is completed, it will be 60% owned by the Dubai Electricity and Water Authority (DEWA). 40% is to be held by one partner or the consortium.


Anand Gupta Editor - EQ Int'l Media Network


Your email address will not be published. Required fields are marked *