Germany

Germany

UK project helps RWE nearly double renewables revenue

"Major contribution" from Greater Gabbard to green generation

Full commissioning of the Greater Gabbard offshore wind farm in UK waters is making a "major contribution" to RWE's 2012 renewables revenue and green electricity generation.

The energy giant's renewables division has recorded an 86.1% jump in revenue for the first nine months of the year, which totalled €309m. This already exceeds RWE's renewables revenue for the whole of 2011, which came in at €282m.

The division has also achieved a substantial increase in electricity generation, which rose to 5 terawatt hours in Jan-Sept 2012, compared with 4.2 terawatt hours during the same period in 2011. Output from offshore wind assets is not specified.

Results detailing RWE's renewables-related profit are less positive, with the company forecasting a 2012 renewables operating result at about the same level as last year. This is, in part, because RWE received a one-off payment last year for delays in the construction of Greater Gabbard, which temporarily boosted the division's profit.

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