BERLIN: RWE AG increased profits in the first half of the year, boosted by a growing renewables portfolio that the German utility plans to expand further with an aggressive acquisition strategy, it said in a statement yesterday.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 18% compared to the same period last year to €1.8bil (US$2.1bil). Profit from its offshore wind business increased 20% due to better weather conditions and new capacity acquired from EON. RWE said it’ll commission 1.3 gigawatts of new wind and solar by the end of the year.