RWE plans to invest nearly €1bn between 2015 and 2017 to grow its renewable energy portfolio.

The investment by the German utility-developer will be majorly earmarked for offshore wind developments.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

RWE chief executive Peter Terium was cited by reNEWS as saying that the renewable sector is "a major technology whose high load factor helps ensure grid stability".

As well as offshore wind, the company will also vouch for onshore wind developments especially across Germany, the UK, the Netherlands, and Poland.

"The crisis in conventional electricity generation will continue to have a significant impact on RWE’s earnings."

The firm revealed its next year plans along with its 2014 fiscal results. RWE had a net profit of €1.7bn last year, it said.

Though it met its 2014 targets, RWE wants to be more cautious with its expenses in the future, since it had suffered losses with extra expenses at a German and a UK offshore-wind projects.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The firm spent €1bn for the renewable energy sector in 2014 alone.

RWE, however, expects further declines to profitability from its conventional power generating capacity in the current year.

Peter Terium was quoted by The Wall Street Journal as saying: "The crisis in conventional electricity generation will continue to have a significant impact on RWE’s earnings…therefore we will probably not succeed in keeping the operating result at the level recorded in 2014."