EnBW to launch largest investment programme in its history

EnBW will spend up to €50bn ($56.5bn) on transmission networks and wind and solar farms by 2030 in what the German utility said is the largest investment programme in its history.

The power company announced that it will invest over €40bn in the “transformation of the energy system” by the end of the decade, while additional investment needs that are emerging “could increase the total to around €50bn.”

The focus continues to be on expanding transmission and distribution networks and building new wind and solar power plants, as well as a planned hydrogen network, it said.

“We are in the midst of the largest investment programme in our corporate history,” said EnBW CEO Georg Stamatelopoulos.

“As Germany’s only large integrated energy company today, we see ourselves as having a special role and responsibility to make a decisive contribution to the success of the energy future.”

EnBW did say that for a “secure supply of energy, there is an additional need for hydrogen-ready gas-fired power plants that can go onstream at any time when there is a lack of wind or sun.”

Stamatelopoulos stressed that implementing the investment plan will be a major undertaking for EnBW. “This means we have to be financially successful, because our earnings are the basis for our investment.”

It is therefore positive, he added, that EnBW achieved good results with adjusted EBITDA of €4.9bn in the 2024 fiscal year.