Renewables on the rise for Germany’s ‘Big Four’ Utilities

All four of Germany’s largest utilities companies have made reference to the increasing importance of renewable energy in their business models in their recent annual reports.

The four companies – RWE, E.On, EnBW, and Vattenfall – together hold a share of about  two-thirds of the country’s power market (as well as having investments in other regions). The major energy providers have been under pressure recently to realign themselves with the goals of Germany’s Energiewende, the national transition away from a nuclear and fossil fuel-powered base load.

E.On has recently spun its renewables division out into a separate company from its traditional generation. The spin-off has been hailed as a success.

RWE saw a drop in its conventional power generation business of 20% (due to falling wholesale prices) but their renewables business more than made up for this.

Meanwhile, Vattenfall commented that:

Renewable energy production will make up an increasingly larger part of the portfolio and contribute to sustainable and profitable growth.

Finally, EnBW stated that it aims to double the share of its generation capacity from renewables to 40% by 2020.

Photo credit: “iStock.com”. Material used in the preparation of this article has been drawn from PVTech

 

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