Frankfurt, Aug. 10, (dpa/GNA) – German energy firm RWE expanded its investment in renewable electricity plants in the second quarter and saw a boost in power generation from renewable sources, the company reported on Thursday.
RWE invested €1 billion ($1.1 billion) in its portfolio of renewable energy generation plants during the quarter, bringing its total investment over the past six months to €9 billion, the company said.
More than two-thirds of RWE’s investments went into the acquisition of the United States-based solar company Con Edison Clean Energy Businesses.
Investments were also made in new wind power and solar plants, RWE said, with generation capacity growing by a total of 5.1 gigawatts (GW) in the first half of the year.
The company’s day-to-day business continued to run smoothly over the past quarter. The company raised its annual targets and released preliminary financial figures for the first half of the year at the end of July.
RWE has been boosted by high margins in electricity generation from water, biomass and gas over recent months. The company’s energy trading business also went better than expected.
GNA