An RWE logo can be seen in this illustration from October 20, 2021. REUTERS / Dado Ruvic / Illustration
ESSEN, November 15 (Reuters) – RWE (RWEG.DE) plans to invest 50 billion euros (57 billion US dollars) by 2030 to increase its renewable energy c -acity to 50 gigawatts, Germany’s largest electricity producer said on Monday in one Strategy update ahead of its C -ital Markets Day.
The adjusted earnings before interest, taxes, depreciation and amortization in the core business, which excludes nuclear and coal, should more than double by 2030 to 5 billion euros, announced the company.
“Our comprehensive strategic change has been successfully completed. We are ideally positioned to play an active role in sh -ing the decisive decade of the energy transition, ”said Markus Krebber, who took over the RWE Executive Board in May.
RWE said total investments over the decade would average 5 billion euros per year for offshore and onshore wind, solar, batteries, flexible generation and hydrogen, for which RWE is aiming for 2 GW of electrolyser c -acity by 2030.
The investment plan, the largest in the 123-year history of RWE, will be financed from the company’s cash flow from ongoing business activities, it said.
($ 1 = 0.8737 euros)
Reporting by Christoph Steitz, editing by Miranda Murray, Kirsti Knolle
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