EnBW Cuts Renewables Outlook

Monday, November 12, 2018

German energy group EnBW on Monday cut the outlook for its renewables division after low wind and water levels hurt the output at its hydroelectric power plants and wind parks.

The group said adjusted core earnings (EBITDA) at its renewables unit would develop in a range of -10 to +5 percent, down from previously expected profit growth of 10-20 percent.

"A cause of concern for us this year in particular ... is something we cannot influence: the weather," finance chief Thomas Kusterer said.

"Currently, low river levels and weak wind conditions are having a negative impact on our business."


(Reporting by Christoph Steitz, editing by Tassilo Hummel)

Categories: Energy Wind Power Offshore Energy Renewable Energy Offshore Wind Europe Renewables

Related Stories

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

BW Opal FPSO Vessel set for Work off Australia

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Eco Wave Finds Partner for Wave Energy Project in India

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

Current News

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com