Following a series of transformations over 2016-18, RWE has become one of the leading renewable developers worldwide, with a number two position in offshore wind and a significant onshore and solar portfolio. Renewables are now the core activity of the group. However, the wider business comprises a range of other activities, including gas-fired generation, supply and trading, a legacy nuclear portfolio (the last plants close by 2022) and a significant brown coal (lignite) operation in the Rhineland. The lignite operations are due to close by the late 2030s under an agreement with government reached in 2020.
During a recent presentation, the CEO and CFO of the company said that recent events would likely change the energy market in Europe permanently. RWE has some exposure to Russia via coal and gas contracts which it will be exiting in favor of Russian counterparties. RWE expects an accelerated push for green energy across Europe (including green gas) and maintains its goal of growing EBITDA to €5bn by 2030.