EnBW is pushing ahead with a rapid expansion of renewable energies and will invest in advanced natural gas-fired power plants that can switch to green hydrogen in the medium term.
EnBW has committed €1.6bn in the past year for the construction of three such plants in Baden-Württemberg. By 2025, EnBW plans to make gross investment of €14bn, around 75% of which will go into expanding grids and renewables.
Renewables were the biggest earnings driver in the past financial year, primarily due to newly operational large solar farms, higher market prices and better wind conditions.
CEO Andreas Schell said, “We now have a clear, scientifically validated pathway for the reduction of our carbon emissions. Our goal is to be completely carbon-neutral by 2035. To achieve this, we plan to halt coal-based electricity and heat generation as early as 2028, provided the necessary policy framework is ready in time.”
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