RWE AG Credit Investor Presentation
April 2024 | Credit Presentation | Page 1 |
Disclaimer
This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking
April 2024 | Credit Presentation | Page 2 |
Contents
- Company overview
- Energy transition
- Credit and financial strength
- Funding strategy
April 2024 | Credit Presentation | Page 3 |
RWE is a global leader in green energy
Offshore | Onshore Wind | Flexible | ||||||||||
Wind | and Solar | Generation | ||||||||||
• Global offshore | • Onshore, solar and | • | Hydro, biomass, and | |||||||||
activities | storage activities in | gas plants | ||||||||||
• | Americas | • Germany, UK, NL | ||||||||||
• | Europe & APAC | • | Hydrogen projects | |||||||||
Capacity: 3.3 GW | Capacity: 13.6 GW | Capacity: 18.5 GW | ||||||||||
Note: Pro rata operational capacities as of 31 December 2023.
April 2024 Credit Presentation
Supply and
Trading
- Trading/origination
- Gas & LNG
- Commodity solutions
- Gas storage
Page 4
We are growing profitably on the back of favourable market fundaments and excellent capabilities
Favourable market fundamentals
Strong positioning in our core markets with significant investment needs in the energy system; policy support for energy transition will adapt to new
market fundamentals
Financial headroom
Strong balance sheet and high-cash generating business portfolio
Extensive pipeline
Strong pipeline across technologies and regions that allows us to select and focus on projects with the most attractive risk-returnprofile
average target IRR | Experienced team |
for new projects |
Extensive inhouse know-how across technologies and within core markets, as well as a best-in-class commercial platform
April 2024 | Credit Presentation | Page 5 |
RWE is accelerating its investments in clean technologies
Net cash investments | Net capacity additions |
2024 - 2030 | 2024 - 2030 |
GW
Installed net capacity target 2030
EUR bn
GW
April 2024 | Credit Presentation | Page 6 |
RWE will operate an even more diversified portfolio by 2030
Diversified portfolio across technologies…. | ….and regions |
Current1
9%
25%
52% | 35 GW |
2% 12%
Offshore wind | Solar |
Onshore wind | Batteries |
2030
15%
30%
>65 GW | 20% |
10%
25%
Flexible generation & hydrogen
Current1 | 2030 | ||||
5% | |||||
3% | |||||
26% | 24% | 25% | |||
30% | |||||
35 GW | >65 GW | ||||
20% | 27% | 25% | |||
15% | |||||
Germany | Rest of Europe | Rest of World | |||
UK | USA | ||||
1 Pro rata operational capacities as of 31 December 2023.
April 2024 Credit Presentation
Page 7
RWE will rapidly decarbonize its portfolio
Net installed capacity
GW, pro rata
>65
60
47
39
~90%100%
77%
73%
27% | 23% | ~10% | |
2021 | 2023 | 2027e | 2030e |
- Green portfolio growth accelerated - around 90% share of renewable and flexible generation capacity will be achieved in 2027
- Coal to decline rapidly - driven by closures and lower utilisation
- Coal exit in 2030
Non-coalCoal-based
April 2024 | Credit Presentation | Page 8 |
Contents
- Company overview
- Energy transition
- Credit and financial strength
- Funding strategy
April 2024 Credit Presentation
We are committed to 1.5°C SBTi emission reduction pathway
Scope 1 & 2 emission targets kg CO2 per kWh
0.6
~70%
reduction
Net Zero
0.17target
202220302040 SBTi Baseline
1 Any residual emissions to be covered with offsetting 2 SBTi verification ongoing.
April 2024 Credit Presentation
- We reduced our CO2 emissions by 50% in the past decade
- We are committed to reducing our relative Scope 1 & 2 emissions by 70% by 2030
- We are committed to reducing our Scope 3 emissions by 40% by 2030
- We aim to be Net Zero in 2040 across Scope 1, 2 and 3 emissions1
- Targets are in line with the 1.5°C emission reduction pathway2
Page 10
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Disclaimer
RWE AG published this content on 08 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 18:47:08 UTC.
