The German utility RWE has unveiled its 2022 results, in which the group posts an adjusted EBITDA of €6.3bn, a 73% increase compared to 2021 (€3.65bn). Its adjusted net income more than double to €3.2bn. RWE posted total net cash investments of €4.4bn in 2022 and added more than 30 projects with 2.4 GW of wind, solar and battery capacity commissioned in eleven countries.
RWE’s overall power generation fell by 2.3% in 2022 to reach 156.8 TWh. Electricity generation from nuclear fell by 48% to 11.9 TWh, generation from gas dipped by 1.4% to 51.7 TWh, generation from lignite grew by 8.9% to 50 TWh (+8.9%) and hard coal rose by 1.4% to at 7.2 TWh. Power generation from renewables increased by 11.1% to reach 35.5 TWh. Among renewables, offshore wind stood at 10.2 TWh (+35%), onshore wind at 17.6 TWh (+12%), solar at 1.4 TWh (+76%), hydro at 1.6 TWh (-16%) and biomass at 4.6 TWh (-22%). In 2022, RWE generated 4.7 TWh from renewables in Germany, 10.2 TWh in the UK, 5.2 TWh in the Netherlands and 11.1 TWh in the US.
At the end of 2022, RWE reached 39.3 GW of installed capacity, a 6% increased compared to 2021. Nuclear installed capacity stood at 1,482 MW (stable), gas-fired capacity stood at 14,269 MW (-0.2%), lignite at 8,250 MW (-3.2%) and hard coal at 1,469 MW (stable). Renewable capacity stood at 13,039 MW (+22%), including 3,517 MW of offshore wind (+52%), 7,455 MW of onshore wind (+13%), 804 MW of solar (+65%), 465 MW of hydro (-7%) and 798 MW of biomass (stable). In 2022, RWE had about 2 GW of installed renewables in Germany, 3.5 GW in the UK, 1.2 GW in the Netherlands and 4.2 GW in the US.