UK project helps RWE nearly double renewables revenue

"Major contribution" from Greater Gabbard to green generation

Full commissioning of the Greater Gabbard offshore wind farm in UK waters is making a "major contribution" to RWE's 2012 renewables revenue and green electricity generation.

The energy giant's renewables division has recorded an 86.1% jump in revenue for the first nine months of the year, which totalled €309m. This already exceeds RWE's renewables revenue for the whole of 2011, which came in at €282m.

The division has also achieved a substantial increase in electricity generation, which rose to 5 terawatt hours in Jan-Sept 2012, compared with 4.2 terawatt hours during the same period in 2011. Output from offshore wind assets is not specified.

Results detailing RWE's renewables-related profit are less positive, with the company forecasting a 2012 renewables operating result at about the same level as last year. This is, in part, because RWE received a one-off payment last year for delays in the construction of Greater Gabbard, which temporarily boosted the division's profit.