New wind farms send E.ON’s renewables profits higher

Despite unfavourable wind conditions, the commissioning of new offshore and onshore wind farms increased sales and earnings from renewables at German utility E.ON in the first half of 2018, reports Bernd Radowitz in Recharge. Sales in the renewables segment increased by four percent to 0.74 billion euros, while retail business sales rose to 11.5 billion euros. From the second half of this year, E.ON classifies its renewables segment as “discontinued operation,” as it will be transferred to rival utility RWE under a far-reaching asset and share swap deal that also involves RWE’s renewables subsidiary innogy.

Read the Recharge article (behind paywall) in English here.

Find the E.ON press release in English here.

For background, read the article RWE and E.ON overhaul power sector – German reactions to Innogy deal.